Bitcoin Briefly Reclaims $20,000 Before Paring Gains
![](https://cryptonewswire.org/wp-content/uploads/https://u.today/sites/default/files/styles/1200x900/public/2022-07/20920.jpg)
![article image](https://u.today/sites/default/files/2019-11/alex-m-ava.jpg)
The recent Bitcoin rally was extremely short lived, with the largest cryptocurrency retracing back to the $19,000 level
Bitcoin, the top cryptocurrency, managed to reclaim the $20,000 level at 00:29 a.m. UTC on the Bitstamp exchange.
![BTC](https://u.today/sites/default/files/inline-images/3446440954r3544455978.png)
The flagship coin managed to soar more than 9% within the span of 48 minutes, staging a surprising recovery.
The sudden rally, however, ended up being a flash in the pan, with Bitcoin erasing virtually all of its gains in the following hours.
The crypto king is changing hands at $19,318 on the Bitstamp exchange.
The market capitalization of the world’s largest cryptocurrency is currently sitting at $370 million.