Bitcoin bounces above $20,000 for first time in about a week

Bitcoin broke above $20,000 on Tuesday for the first time in about a week, as cryptocurrencies bounced, along with other risk-sensitive assets, in Asian trade.

The biggest cryptocurrency by market value, bitcoin, was up more than 5% at $20,286. The second-biggest, ether, rose 4% to a one-week high of $1,389.

In the broader market, the dollar eased slightly after soaring to fresh heights on Monday.

A week earlier, cryptocurrencies fell to fresh lows on regulatory concerns and as investors globally turned shy on risky assets with interest rate rises looming around the world.

Bitcoin, the biggest cryptocurrency by market value, fell about 5% to a three-month low of $18,387.

Also Read: Bitcoin falls below $19,000

Ether, the second largest cryptocurrency, dropped 3% to a two-month low of $1,285 and is down more than 10% in the last 24 hours. Most other smaller tokens were deeper in the red.

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