Investing.com– Bitcoin rose on Thursday, recovering a small measure of recent losses as traders bought into heavily discounted prices, although economic uncertainty and cooling rate cut bets limited the crypto’s rebound.
The world’s largest cryptocurrency had slumped into a bear market this week, as it tumbled more than 20% from record highs hit in early-October.
Bitcoin rose 1.7% to $103,744.2 by 23:35 ET (04:35 GMT). It had earlier this week tumbled below $100,000, hitting its weakest level since mid-June.
World Economic Forum President Brende warns of crypto bubble
World Economic Forum President Borge Brende warned of a potential crypto bubble when speaking to reporters in Brazil on Wednesday.
Brende also warned of potential bubbles in artificial intelligence and government debt.
Fears of a technology valuation bubble were a key driver of market losses this week, with losses in equities largely spilling over into crypto markets.
Bitcoin’s losses so far in November also came after crypto markets largely ducked expectations for outperformance in October. The world’s largest crypto lost some 5% last month, breaking seven straight years of outperformance in October.
Bitcoin and broader crypto markets have also largely lagged behind other risk-driven markets since early-October, after a flash crash in the sector wiped out some $500 billion in valuations.
Robinhood Q3 crypto revenues surge but miss expectations
Robinhood Markets Inc (NASDAQ:HOOD) on Wednesday reported stronger-than-expected third-quarter earnings on a boom in crypto trading volumes, although its crypto revenue still fell short of Bloomberg estimates.
Shares of the trading app fell as much as 4% in aftermarket trade on Wednesday.
Revenue from Robinhood’s crypto trading business surged 300% year-on-year to $268 million. The company also announced that CFO Jason Warnick will leave his role in the first quarter of 2026, and will be replaced by company veteran Shiv Verma.
Crypto price today: altcoins recoup some losses, but economic jitters persist
Broader crypto prices tracked a recovery in Bitcoin, although they were still nursing steep losses this week as risk appetite remained dull.
World no.2 crypto Ether rose 3.7% to $3,450.09, while XRP rose 5.1% to $2.3596.
Solana rose 3.2% to $162.021, while Cardano and BNB rose between 1.5% and 2%.
Among meme tokens, Dogecoin rose 1.2%, while $TRUMP outperformed, rallying nearly 16% on no clear factors.
Crypto prices were battered this week amid heightened uncertainty over the U.S. economy, especially amid an ongoing government shutdown. Cooling bets that the Federal Reserve will cut interest rates in December also weighed on risk assets.
