Most major cryptocurrencies rebounded after a brutal sell-off.
Bitcoin rebounded to more than US$115,000 on Monday morning in Singapore time, after falling below US$105,000 in U.S. trading on Friday. Small tokens also recovered some of their lost ground, with ether bouncing back from below $3500 to about $4200.
Cryptocurrency prices plunged on Sunday, wiping out a record $19 billion bet, as leverage, automatically triggered sell-offs and low liquidity in global trading during inactive hours exacerbated traders 'losses.
Richard Galvin, co-founder of hedge fund DACM, said: "Trump's moderating tone contributed to this rally." Galvin added that most so-called altcoins, or small tokens, are still well below their Oct. 9 levels. "Looking ahead, as in 2025, news risks remain high."
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