Bitcoin reclaims $31k level after weeks of languishing; Ether rises 5.6%

Bitcoin is continuing to advance and stabilize, rising above the $31,000 mark, after languishing over the weekend with the largest cryptocurrency gaining as much as 5.4% on Monday to $31,553.

Ether is advancing higher and up 5.6% with a number of altcoins also in the green — Solana, Avalanche, Cardano are all up 11% today as market sentiment improves.

“Bitcoin’s fundamentals and technicals have both been improving over the last few days. Though it may still be premature, some of the more optimistic traders are already calling for a floor on this extended drawdown,” Mati Greenspan, founder of Quantum Economics, told Bloomberg on Monday.