The cryptocurrency Bitcoin rose again during trading today, Tuesday, to exceed the level of 20 thousand dollars, for the first time in about a week, in light of the recovery of cryptocurrencies and other highly sensitive assets, in Asian trading.
According to Arab Net, Bitcoin rose more than 5% to reach $20,286, and Ether, the second-largest cryptocurrency, rose 4% to a one-week high of $1,389.
The dollar fell slightly after hitting new highs on Monday, as it rose 0.29% to 143.78 yen, continuing its rise towards its highest level in 24 years, when it recorded 145.90 on Thursday.
A wave of sharp decline swept the cryptocurrency market last week with fears of a wave of monetary tightening set to extend from Europe to the United States.
Bitcoin is on the cusp of its lowest level since 2020, falling 7.4%, trading at $18,370 as of 7:45 am in London. Ether is down as much as 6.6%, as it struggles to hold the $1,300 level. Coins such as XRP and Polkadot also posted larger losses.
Ether, the second largest token, fell to a two-month low, after seeing a jump since mid-June, driven by hype about upgrading its blockchain network (Ethereum) to cut power usage.
Ripple Labs' XRP was among the biggest losers, dropping by 13.5%. This came amid reports that the company and the US Securities and Exchange Commission would prefer an immediate ruling in a lawsuit over XRP.
The market capitalization of crypto tokens has fallen by more than $70 billion to $941 billion, a figure a far cry from the peak of $3 trillion in 2021, according to CoinGecko figures.
Tight monetary policies and the fall of leveraged crypto companies have led to significant price drops this year.
