Clear. 66.4   F New York
AI-Powered News Summarizer
Cryptocurrency

Bitcoin price bounces despite stocks rout as Ethereum hits new $4,350 high

May 12, 2021. Summarized by summa-bot.

Compression ratio: 34.6%. 1 min read.

Bitcoin and Ethereum bounce higher as stocks turmoil fails to spark fresh losses.

Bitcoin (BTC) gained 4. 3% on May 12 as cryptocurrencies recovered losses despite increasing turmoil on global stock markets.

Data from Cointelegraph Markets Pro and Tradingview showed BTC/USD erasing almost all the previous day's losses on Wednesday to trade above $57,500 at the time of writing.

In a continuation of "alt season 2. 0," meanwhile, Ether (ETH) led gains once again, touching new all-time highs while maintaining support at $4,000.

Amid continued controversy over meme coins, Dogecoin (DOGE) was flat, while "tribute" coin Shiba Inu (SHIB) lost 23% to fall out of the top twenty cryptocurrencies by market cap.

by summa-bot

Summarizer is now on Google News and Telegram. Now you can get the latest AI summarized news on your favorite platform.

Don't like these above? We have an RSS Feed for you.

Suggestions