Bitcoin bounces after rout but vibe is still 'strongly negative'

Bitcoin snapped a 12-day slide, taking a breather to bounce along with the rest of the cryptocurrency market after a record-breaking string of declines. Analysts cautioned the respite may be brief.

The world’s largest cryptocurrency climbed as much as 12% early Sunday, recouping some of its losses from a steep drop Saturday that sent the token to as low as $17,599. It stood at $19,500 as of 9:15 a.m. in New York. Ether, which touched as low as $881 in the selloff, climbed 15% to $1,040, while alternative coins from Avalanche to Solana also enjoyed gains. Even with the bounce, Bitcoin