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Bitcoin bounces back by 4.04% to trade at $50,953.40

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Popular cryptocurrency, Bitcoin, rose by 4.04% to trade at $50,953.40 in the early hours of Monday after dipping slightly.

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Cryptocurrencies were mostly lower on Monday, although market conditions have stabilized following the weekend sell-offs.

Bitcoin was trading above its 200-day moving average (currently at $46,386), which suggests selling pressure could wane over the short term.

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Bitcoin on Monday went back under the $1 trillion market capitalization level with the combined crypto market falling toward the $2 trillion mark.

Meanwhile, Ethereum, the world’s second largest cryptocurrency by market capitalization went up by 4.26% to trade at $4,343.93.

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