Bitcoin nears $20,000 as traditional markets rise in US
Quick Take
- Bitcoin briefly crossed the $20,000 threshold after U.S. markets closed on Friday.
- Bitcoin hit the $19,000 level on Thursday for the first time since the November collapse of FTX.
Bitcoin was up 0.6% at the close of U.S. markets, trading around $19,460 while traditional markets reversed earlier losses to close higher. The coin briefly crossed the $20,000 threshold on Coinbase later in the evening, according to TradingView data.
The biggest cryptocurrency is up almost 16% over the past seven days, according to CoinGecko.
The S&P 500 and Nasdaq both started the day lower, only to close at 0.38% and 0.71%, respectively.
Bitcoin returned to the $19,000 level on Thursday for the first time since Nov. 8, when the FTX implosion was kicking off.
Coinbase closed up more than 5%, Silvergate rose above 3% and Galaxy Digital increased 1.72%.
(Updates to show bitcoin briefly passed $20,000 threshold on Coinbase.)
Disclaimer: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
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