Bitcoin advanced Tuesday after falling 8.5 percent in the previous session, displaying bullish continuation signs amid global re-risking sentiment.
The benchmark cryptocurrency touched an intraday high above $36,500, up 21.35 percent from its week-to-date low near $30,000. Traders flocked back into the market after sensing short-term buying opportunities near the said local bottom. In doing so, they took the BTC/USD exchange rate above a crucial resistance level of $35,000—it was capping the pair’s gains during the overnight US session Monday.
Stocks Recover, Dollar Slips
Bitcoin’s latest upside correction appeared almost in sync with similar rebounds across the global stock market. In Asia, the Shanghai Composite Index rose 1.4 percent. Meanwhile, the Nikkei 225 in Tokyo and the Hang Seng in Hong Kong added 0.1 percent and 0.8 percent.
The European trading session experienced a positive