Bitcoin Price Briefly Revisits $40,000 as Bulls Pare Week's Losses

 coindesk.com  01/14/2021 15:52:17   Zack Voell

Bitcoin has rallied nearly 15% in the past 24 hours. Ether hits $1,200.

Bitcoin briefly broke above $40,000 again Thursday morning as the market reversed the bulk of its losses from Monday.

  • The leading cryptocurrency rose to $40,066.32 before settling back to $39,521.46, up 14.25% in the past 24 hours, per CoinDesk's Bitcoin Price Index (BPI).
  • Over the weekend and into early Monday morning, bitcoin dipped nearly 30% from its peak just below $42,000. The move prompted CNN Business writer Paul La Monica to declare bitcoin in a bear market.
  • With the downturn seemingly over, other cryptocurrencies are following bitcoin, with ether reclaiming $1,200, up 13%.
  • Polkadot has gained 21% and Litecoin is up 11% in the past 24 hours, per market data from Messari.

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