Bitcoin reclaims US$40,000 as crypto volatility lingers

Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021. REUTERS/Dado Ruvic/Illustration

LONDON: Bitcoin climbed back above $40,000 on Wednesday for the first time this week, as recent volatility in the cryptocurrency market showed few signs of dampening down.

Bitcoin jumped as much as 6.5% to $40,904. Smaller coins, which tend to rise and fall with the largest cryptocurrency, also gained, with ether climbing over 7.5% to over $2,906.