Bitcoin, the world’s biggest cryptocurrency by market capitalisation, rose 4.6 percent to $20,853 at 01:01 GMT on Saturday, adding $922 to its previous close.
The world’s leading cryptocurrency is up 26.4 percent from the year’s low of $16,496 on January 1.
Ether, the coin linked to the ethereum blockchain network, rose 5.91 percent to $1,536.9 on Saturday, adding $85.90 to its previous close.
The developments will be welcomed by crypto enthusiasts after Bitcoin lost over 60 percent of its value in 2022, with many other tokens experiencing similar losses, due to the bleak macro outlook, the collapse of several crypto firms, and greater regulatory scrutiny.
“The crypto market will not go in a straight line – no market ever does – but we expect the bears to go into hibernation and bulls are ready to run,” Nigel Green of deVere Group, a crypto entrepreneur, said.