Bitcoin leads crypto rally despite UK’s Binance crackdown

The largest digital coin rallied on Monday to near $35,000 after wobbling down to around $30,000 over the weekend.

Bitcoin pushed higher as proponents took the U.K.’s crypto crackdown in stride after the digital token traded above a key technical level over the weekend. The largest cryptocurrency advanced as much as 8%, and recently traded at around $34,580 in New York trading. The broader crypto market also climbed, with the total valuation up about 5% to $1.44 trillion, according to CoinGecko pricing. In one of the most significant moves to date by a regulator amid a global crackdown, Binance Markets Ltd., an affiliate of top global crypto exchange Binance, was banned Sunday by the U.K. financial watchdog from doing any regulated business in the country. Huobi, one of the most popular cryptocurrency platforms in China, said Monday that users in the country are prohibited from trading derivatives.