The crypto market has been battered this year, with more than $2 trillion removed from its value since its peak in November 2021. Cryptocurrencies have been under pressure after the collapse of the main exchange FTX.
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Bitcoin rose above $20,000 for the first time in over two months.
Bitcoin, the world’s largest and most popular cryptocurrency, rose 4.6% to $20,853 at 01:01 GMT on Friday, adding $922 to its previous close.
The cryptocurrency is up 26.4% from a year low of $16,496 on January 1.
Ether, a coin linked to the ethereum blockchain network, rose 5.91% to $1,536.9 on Friday, up $85.90 from its previous close.