Bitcoin hovers around $43,000 as crypto markets try to shake off worries about an Evergrande default

Bitcoin hovers around $43,000 as crypto markets try to shake off worries about an Evergrande default

Bitcoin hovered at around $43,000 on Tuesday as it recovered somewhat from a broad crypto sell-off prompted by fears about Evergrande's potential debt default, but the cryptocurrency has yet to recoup its losses. Bitcoin was trading at $42,704 as of 10 a.m. ET, a fall of about 3% in 24 hours, but up from Monday's lowest price of $40,267, according to data. The threat of possible loan defaults by Chinese property developer Evergrande shook cryptocurrencies alongside other markets on Monday, as investors worried about whether the losses would spread into the wider financial system. Altcoins were also mainly making up ground, but faced an uphill struggle as investors appear to remain uncertain as to whether the Chinese property giant's crisis will spill over into crypto coin prices. Ethereum's token ether was down 2% at $3,036.69 having broken below $3,000 on Monday with a low of $2,811.83. Cardano's ada was trading at $2.17, down almost 0.5%, climbing back from a $1.97 low during the height of the sell-off, according to CoinDesk data. On Coinbase, solana's sol is down 3% at $140.53 after it hit a low of $125 Monday. "I don't think we'll see any kind of positive price action until