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.

BTCUSD chart by TradingView

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.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.