Cryptos reverse course a day after flash crash; bitcoin, ETH, dogecoin rise 4-9%

Bitcoin (Representative image: Reuters)

Cryptocurrencies made a strong comeback on July 21, a day after a flash crash that pulled bitcoin prices below $30,000 for the first time in four weeks.

At the time of writing this report, almost all major tokens were trading in the green, with dogecoin, polkadot and ETH up 7-9 percent on a 24-hour basis. The global cryptocurrency market capitalisation is currently $1.26 trillion, up 4.77 percent over the previous day.

Read: Crypto firm FTX Trading raises $900 million at $18 billion valuation

The pullback, a day after the global sell-off, is of significance as $30,000 is seen as key support for bitcoin, which hints that dips are still being bought in.

A recent study by Fidelity's cryptocurrency business found that seven in 10 institutional investors expect to invest in or buy digital assets in the future, which indicates that top players have still not given up on cryptos despite warnings from several central banks.

Also Read: Top cryptocurrency news on July 21: Bitcoin falls below $30,000 and other major stories

As of 01:00 pm IST on July 21, these are the prices of the 10 largest cryptocurrencies (data from coinmarketcap.com):

-- Bitcoin  (up 3.54%)

-- ETH  (up 6.13%)

-- Tether  (up 0%)

-- Binance Coin  (up 5.5%)

-- Cardano  (up 6.54%)

-- USD Coin  (up 0%)

-- XRP  (up 3%)

-- Dogecoin  (up 8%)

-- Polkadot  (up 8.59%)

-- Binance USD  (up 0%)