After the rout: Bitcoin rallies back above $50,000
Bitcoin rallied back above $50,000, surpassing the key psychological level as bullish momentum returned after last week’s selloff. The digital token climbed as much as 11% before paring some gains to trade around $50,900 as of 9:51 a.m. in New York, reaching the highest level in two weeks, according to data compiled by Bloomberg. The cryptocurrency has been volatile with prices plunging 21% last week before recovering with the earlier broad bounce back in global equities. On a technical basis, the GTI Global Strength Indicator, which detects trend fluctuations, has begun to curl upward, sug...