Bitcoin sees slight rebound after nearly falling below $20,000, but it’s still at late 2020 levels

Bitcoin has been closely correlated with stock indexes, in particular the Nasdaq, which rose on Wednesday after the U.S. Federal Reserve hiked interest rates by 0.75 percentage point. That’s one reason why bitcoin rose slightly on Thursday.

There was a similar jump in U.S. stocks on Thursday but investors are still reeling from a dramatic plunge over the last few days.

At 3:40 a.m., the sun rises. In the past day, it was trading at $21,667.90, an increase of 3%.

The last time it was at this level was in December 2020. The digital currency has fallen from its all-time high in November.

ether was higher in the last day.

The stock market rose on Wednesday after the Fed hiked interest rates. That is one reason why the price of the virtual currency went up.

There are a lot of issues that are weighing on the market.

The collapse of TerraUSD along with its sister token luna shook the sentiment of the people.

Stable coins are supposed to be pegged to a real world asset. Many are pegged to the US dollar. tether andUSD coin are backed by real assets. TerraUSD doesn't have assets in reserve The $1 peg is governed by a computer program.

The strength of other projects is being tested by the bear market.

The dollar peg was lost by another stable coin. The stable coins tether andUSDC are in the reserve of the tron DAO reserve.

Celsius, the platform that might be facing insolvency, is the focus of all attention. Customers had their withdrawals paused earlier this week.