Bitcoin and Ethereum, the top two cryptocurrencies by market capitalization, rose 5% in price over the past 24 hours as the crypto market struggled to recover from a spectacular crash following the TerraUSD stablecoin crash, with Bitcoin briefly recovering $32,000 again before falling.
Bitcoin is currently trading at $31,790 per token, up $1,090 in the past 24 hours. Today is a three-week high for bitcoin; Bitcoin last traded above $32,000 on March 11, according to CoinMarketCap.
Ethereum has fallen below $2,000 several times since May 21. Currently, Ethereum is trading at $1,942, up $20.50, according to CoinMarketCap.
The cryptocurrency market has been in the doldrums since The TerraUSD lost its peg to the U.S. dollar on March 8. Despite seeing green today, Bitcoin is down 53% from its all-time high of $68,789 on November 10, while Ethereum is down 60% from its all-time high of $4,891 on November 16.