Bitcoin Climbs Above $31,000 as Stocks Rose and Shanghai Lockdown Ends

Bitcoin prices rose above $31,000 early today. Investors and analysts said Bitcoin had begun to show signs of recovery following a rebound in Asian and European stock markets after Shanghai announced plans to revitalize the economy and end its lockdown measures.

Bitcoin prices rose $2,310.69, or +7.74%%, to $31,618.49

Hayden Hughes, CEO of Alpha Impact, said Bitcoin is recovering after falling for eight days and technically selling off into a bear market in the past.

Stocks across Asia and Europe rose Monday (May 30) after Shanghai, China’s financial center, announced measures to revive the economy and support businesses affected by the lockdown measures. The measure includes tax and fee relief for companies affected by the lockdown.

Shanghai also announced it would lift the lockdown measures from Wednesday, June 1, allowing businesses to resume normal operations.

The Spot market is Open

Tuesday, May 31, 2022

Crypto
Updated at
USD
Price

Change

%Change
11.10 BTC31,783.94+1,420.50+4.68
11.10 ETH1,994.02+114.33+6.08
11.10 LTC69.32+3.40+5.16
11.10 BNB319.97+5.90+1.88
11.10 XRP0.42+0.02+5.51
11.10 ADA0.59+0.06+10.62
11.10 DOT10.50+0.34+3.35
11.10 DOGE0.090.00+3.98
11.10 UNI5.59+0.30+5.69
11.10 LINK7.54+0.43+6.02

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