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Bitcoin is back above $50,000 as crypto investors recover from the weekend rout, while metaverse tokens are soaring
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markets.businessinsider.comWestend61
Bitcoin gained for a third day on Tuesday, rallying above $50,000 after investors bought into the 20% drop at the weekend that was triggered by a combination of concern about the impact of the Omicron variant and large crypto holders selling aggressively.
Bitcoin rose 9% in 24 hours to stand at $51,511.24 at 07:18 a.m. ET, while ether climbed 12% to touch $4,424.44, according to Coinmarketcap. On Saturday, a sell-off gained momentum, as larger investors piled in and pushed the price down by as much as 20% to below $43,000, while smaller cryptocurrencies tumbled.
By Tuesday, the gains in bitcoin and ether spread to other coins, such as the native tokens of the polkadot, avalanche and terra blockchains, which rose by more than 12% on
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