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Bitcoin starts new week on the front foot, rebounds to $58,000 By BTC Peers

by Mike Robinson

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© Igor Faun Bitcoin starts new week on the front foot, rebounds to $58,000

After falling to $54,000 Friday, he has made a quick recovery.

Over 9% plunged in the flagship cryptocurrency on Nov. 26, amid fears that the Covid-19 pandemic could worsen because of the Omicron variant. But, the cryptocurrency soared to over 77% by Sunday. This put the bulls in control and started the week off with a bang.

To record a November green monthly candle, Bitcoin must gain an additional 6%. The cryptocurrency is 17.03% from its record high of $69 044, reached on November 10.

Bitcoin is not only an asset that bounced back after a recent drop. Stock futures in the United States are another major market that is experiencing a rally. The S&P 500 index is on track to gain 0.69%. WTI prices also saw a rebound after suffering the worst one-day plunge since April 2020. Even the, which lost $10 at open has managed to make some gains.

Daily gains have been also seen in other top cryptos. For example,, which gained approximately 5% during the past 24 hour, now stands at $4,300.

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