Bitcoin Holds Rebound as Crypto World Awaits Stablecoin Rescue
- World’s largest token hovers around $31,000 in Asian trading
- Steps are expected to bolster the ailing TerraUSD stablecoin
This article is for subscribers only.
Bitcoin held a partial rebound from this week’s selloff amid steadier sentiment in global markets and expectations of help for a stablecoin whose struggles have cast a cloud over the cryptocurrency sector.
The world’s largest token hovered around $31,000 as of 12:50 p.m. in Singapore on Wednesday after bouncing from a brief dip below $30,000 a day earlier. Ether, Solana and other coins fluctuated in somewhat narrow ranges.