Representations of the virtual currency Bitcoin stand on a motherboard in this picture illustration taken May 20, 2021.
REUTERS/Dado Ruvic/IllustrationBitcoin climbed back above $40,000 on Wednesday for the first time this week, before edging off its highs, as recent volatility in the cryptocurrency market showed few signs of dampening down.
Bitcoin jumped as much as 6.5% to $40,904, before easing back to around $38,797 at 11:45 a.m. Eastern time.
Still, bitcoin is down 30% this month, and has lost over 37% from its record high of almost $65,000 hit in April.
"Cryptocurrency market volatility is not going away anytime soon," said Edward Moya, senior market analyst at OANDA.
Dado Ruvic, Bitcoin, bitcoin, Edward Moya, Larry Fink, Fink
REUTERS, BlackRock, Thomson