The cryptocurrency reached above $58,000 to close within $10,000 of the all-time high it reached earlier this month i.e. shot up by more than $4,000 overnight to recuperate losses suffered last week. The 7 per cent price rise was mirrored by several other leading cryptocurrencies e.g.  Solana Concerns surrounding potential new cryptocurrency regulations introduced with the US infrastructure bill also contributed to the downturn

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