By Sam Shead
The crypto market edged higher Monday after a week of hell during which billions of dollars were wiped off the value of bitcoin and ether.
The price of Bitcoin rebounded above the $38,000 level Monday after plummeting to less than $32,000 on Sunday. Bitcoin was up around 14.74% at $37,993.96 in the 24 hours leading up to 11:25 a.m. ET, according to CoinDesk data, which put the market cap of the world’s most popular cryptocurrency at around $711.1 billion.
Ether, the world’s second most popular cryptocurrency, rose from less than $1,800 on Sunday to over $2,400 on Monday. It was trading around $2,461.97 at 11:25 a.m. ET – up 26.1% over 24 hours and with a market cap of around $285.6 billion, according to CoinDesk.