Bitcoin, Ethereum Jump 5% as Crypto Market Rebounds

Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, saw a 5% spike in price in the last 24 hours
The prices of Bitcoin (BTC) and Ethereum (ETH) saw a 5% jump over the last day, giving investors renewed hopes for a much-anticipated market recovery after a brutal sell-off in May.

Currently, Bitcoin is changing hands at $31,289, up 5.2% over the day, according to data provided by CoinMarketCap.

The leading cryptocurrency last traded at these levels on June 1, when it entered a downward correction that dragged the price of BTC from above $32,000 below $30,000 for the most part of the weekend.

Despite the latest spike, Bitcoin is still down more than 34% since the start of the year, with the Fear & Greed Index—a combination of variables measuring market sentiment—currently standing at 13, which corresponds to “extreme fear The price of Ethereum has meanwhile just hit an intraday high of $1,889, as it went up almost 6%, per CoinMarketCap