Bitcoin climbs above $92,000 after a crushing sell-off since October, but traders remain cautious

Bitcoin jumped above the $92,000 level on 3 December, data on CoinMarketCap showed, after climbing to $90,000 the previous night. The recovery comes after an extended selloff that wiped close to $1 billion in leveraged bets, but traders remain cautious, amid signs of persisting stress in the crypto markets, Bloomberg reported.

The world’s largest cryptocurrency gained as much as 6.8% to $92,323, while the second largest token Ethereum rallied over 8% to briefly push its price back above $3,000. Across the board, the smaller names such as Cardano, Chainlink and Solana each rose over 10%, the Bloomberg report added.