Bitcoin price back above $40K and ETH up 12%

Bitcoin price has risen above $40,000 again today. The largest crypto currency has risen by almost 10 percent in the past 24 hours. At the time of writing, the BTC price is around $40,400.

Bitcoin has embarked on a strong recovery

Bitcoin got off to a bad start in 2022. It even crashed to a low of $32,900, a level it hadn’t seen in six months. Today, however, the largest cryptocurrency appears to have begun its recovery. This is despite the price still being 40% lower than its all-time high of $69,044 reached in November.

BTC 1 day per candle – Source: Tradingview

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Ethereum price rises by 12 percent

Ethereum performs even better. At the time of writing, the ETH price is around $2,950. That means the price has risen by more than 12% in the past 24 hours. Despite this nice price increase, the Ethereum price is also 41% below its all-time high of $4,878, which it reached three months ago.

ETH 1 day per candle – Source: Tradingview

Other altcoin prices are also rising. For example, the Solana price has increased by 12 percent to $110 and the AVAX price has also increased by more than 13 percent. Could the recovery that the crypto market has embarked on today continue?

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