Crypto carnage abates as Bitcoin bounces back to $42,000

After a brutal selloff, crypto markets were showing signs of recovery on Thursday with Bitcoin and Ether clawing back some losses.

Crypto markets are showing signs of recovery after Wednesday’s dramatic selloff. Bitcoin hovered near the $42,000 mark and Ether rebounded as investors tried to make sense of the crash that wiped away billions and shattered the notion of crypto as a maturing asset class. “You can’t keep a good dip buyer down for long in the financial markets these days, and cryptos are no different,” said Jeffrey Halley, a senior market analyst at Oanda. “The mass liquidation yesterday will have thinned out the ranks of believers.”