Bitcoin Retakes $31K as Traditional Markets See Risk Reset, BNY Mellon Makes Crypto Push

Bitcoin Retakes $31K as Traditional Markets See Risk Reset, BNY Mellon Makes Crypto Push

Bitcoin has climbed above $31,000 alongside gains in global equity markets and fresh evidence of growing demand for cryptocurrency from traditional market participants. However, it may be too early to call a trend reversal higher.

The biggest cryptocurrency by market value was changing hands near $31,300 at press time, a 5% gain on the day, according to CoinDesk 20 data. The bounce comes a day after the cryptocurrency printed its first UTC close below $30,000 since New Year’s day and may have caught out some traders.