Bitcoin rises amid risk-on mkt mood after dip below $40,000

Bitcoin dropped briefly below $40,000 for the first time since August amid rising criticism from regulators, before rallying as the mood in global markets improved.

The largest cryptocurrency broke a three-day losing streak, rising 2.9 per cent to $42,132 as of 6:34 am London time on Wednesday. It earlier slid as much as 3.2 per cent to $39,625. Tokens including Ether, Solana and Litecoin were slightly lower over the past 24 hours. Bitcoin slid about 90 per cent earlier this week on a data network run by several of Wall Street’s biggest players after their computers bungled basic computations.