Bitcoin regained the $70,000 level today after surging more than 11% by midday on Friday, recovering from its biggest single-day decline since the FTX collapse. The leading crypto asset fell below $60,000 on Thursday, but has since rebounded sharply.
Ethereum fell to $1,750 before rising back above $2,000, and Solana rallied from a low of $65 to $86. XRP rose 22% to $1.50 after falling below $1.14, with the entire crypto market recouping most of its losses from the previous session.
Stocks exposed to cryptocurrencies also rebounded sharply. Strategy shares rose more than 21% to $130 in after-hours trading on Thursday after nearing below $100 after the company announced a quarterly loss of $12.4 billion.
Coinbase rose 10%, Galaxy rose 17%, and mining stocks Marathon and Cipher rose 20% and 13%, respectively.
Traditional markets have recovered from levels not seen since mid-December. The S&P 500 and Nasdaq were both up about 1.5% by midday.
In commodities, gold rose nearly 4% towards $5,000 and silver rose 8% to $76. Both remain well below last week's all-time highs.
Despite the broad rebound, some analysts advised caution heading into next week's trading, warning that this could be a short-term relief rebound due to persistent macroeconomic headwinds.
