Bitcoin Recovers Despite Falling Below $54,000

On Friday the 26^th of November 2021, Bitcoin recovered after declining below $54,000.

 The largest cryptocurrency dived over 9% on Nov. 26 amid concerns of the Covid-19 Omicron variant. However, it dipped by over 7% on Sunday, putting the bulls back in charge and starting the new week with a bang.

However, According to CoinMarketCap, Bitcoin defies trends by climbing six percent in just a few hours on Monday. , Bitcoin hit a 24-hour high of $57,793.31. At the time of writing, BTC is sitting slightly lower at $57,480.06.

Bitcoin will have to gain a further 6% in order to record a green monthly candle in November. It is also 17.03% away from reaching its all-time high of $69,044, which was attained on Nov. 10.

Bitcoin is not the only financial asset that has recovered from a recent decline. Other major markets like the U.S. stock futures are also in rally mode. The S&P 500 index is on track to gain 0.69%.

Crude oil also staged a recovery after the  Western Texas Price Index (WTI)  recorded the biggest one-day drop since it went south in April 2020. Gold also gained in the commodity market despite a $10 shed.