Share this article
Bitcoin Rebounds Past $20K, Ether Soars Above $1,100
The price of bitcoin bounced 16.7% off of its Saturday lows. Ether followed with a 29% gain.
By Tracy Wang
Updated May 11, 2023, 6:40 p.m. Published Jun 19, 2022, 9:58 p.m.
Bitcoin surged past $20,000 Sunday afternoon to $20,580 a coin, a 16.9% gain off its Saturday lows.
The rally comes just one day after bitcoin , the largest cryptocurrency by market capitalization, fell below $20,000, its lowest price since November 2020. As of press time, bitcoin was trading at about $20,383 a coin.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin’s price surge reflects traders’ renewed appetite for risk, even as the market continues to digest the fallout surrounding crypto lending giant Celsius and crypto investment firm Three Arrows Capital.
“Willing buyers have been in cash waiting to buy cheap coins,” Jordi Alexander, chief investment officer of Selini Capital, told CoinDesk in a Telegram message. “They have to determine if they will get to buy another 20% lower, or if this is their chance. If they wait too long, they will have to chase higher.”
“The key question is whether the forced selling we have seen is wrapping up, or if there are still distressed sellers,” added Alexander.
Early Saturday, the price of bitcoin plummeted below $20,000 and dipped as low as $17,601 later in the trading day. The drop also put bitcoin below the $19,783 all-time high it notched in December 2017, a level many crypto traders believed bitcoin would not fall below.
Ether, the second-largest cryptocurrency by market capitalization, enjoyed an even bigger rebound after falling as low as $880 on Saturday. As of press time, ETH was trading at $1,133, a 20% gain over the past 24 hours and a 29% gain off of its Saturday low.
On a year-to-date basis, bitcoin is still down 56%, while Ether has lost 69% of its value.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin Plunges Below $90K as AI Worries Drag Nasdaq, Crypto Stocks Down
Chipmaker Broadcom's 10% slide weighs on the market as Chicago Fed's Goolsbee signals more cuts than the median for 2026.
What to know:
- Bitcoin drops below $90,000 as ongoing AI related jitters weighed on U.S. stock market indices.
- Broadcom shares fell 10% on Friday after earnings outlook disappointed investors' high expectations.
- Chicago Fed President Austan Goolsbee, who opposed a rate cut in December, said he is projecting more interest rate cuts in 2026 than the current median outlook.
Top Stories
