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Buoyant bitcoin helps crypto market surge past $2 trillion barrier

Bitcoin's jumpiness has waned of late. Its 30-day volatility is around 4 per cent, about two-thirds the level it was in June 2021

bitcoin, cryptocurrency
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Reuters
As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2-trillion barrier and is proving surprisingly resilient amid global chaos.

At Monday’s high of $47,765, market leader bitcoin broke above the narrow $34,000-$44,000 range it’s traded in for most of 2022. Through a steady grind higher from a low just above $40,000 on March 21, it has gained 18 per cent.

Its comparative steadiness, versus previous performance at least, contrasts with stock markets, traditional currencies and even safe-haven gold, which have been shaken by the Russian invasion of Ukraine

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First Published: Mar 29 2022 | 11:14 PM IST

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