Bitcoin climbed back above $40,000 amid a broad rally in financial markets, while day-trading favorite Shiba Inu surged more than 20%.
Shiba Inu and three other tokens — Solana’s SOL, Polygon’s Matic and Compound’s COMP — were all listed for the first time on Robinhood Markets Inc.’s platform.
Bitcoin had dropped Monday to below $40,000 for the first time in more than three weeks.
Bitcoin “is still consolidating in a triangle pattern stretching back to mid-January,” said Jeffrey Halley, senior market analyst at Oanda.
Crypto’s correlation with US tech stocks has risen sharply in the past few weeks, suggesting investors increasingly view digital assets as vulnerable to tightening monetary conditions.