Bitcoin Price Is Pushing Back Toward $60,000

Bitcoin has climbed on four of the past five days, and the price is now pushing back toward $60,000 for the first time in a couple weeks.

• Bitcoin (BTC) trading around $58,800 as of 20:17 UTC (1:47 a.m. IST). Climbing 2.1% over the previous 24 hours.

• Bitcoin's 24-hour range: $57,069-$59,380

• PayPal on Tuesday announced a Checkout service that will allow bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and litecoin (LTC) to be seamlessly converted into U.S. dollars or other fiat currencies when making purchases, the same as a credit card or a debit card would work inside a PayPal wallet.

• Blockstream, the bitcoin development company, is launching a token tied to the company's bitcoin-mining production, redeemable in bitcoin.

• Derivatives exchange Chicago Mercantile Exchange (CME) will launch smaller-sized bitcoin "micro" futures contracts in May, potentially expanding the number of people who bet on the future price of the leading cryptocurrency.

• Tether, the company behind the biggest dollar-linked stablecoin, USDT, published an attestation verifying that it had $35 billion in assets backing a similar amount of its USDT token last month. Some analysts had warned that an unraveling of trust in tether could rattle the bitcoin market.

“Bitcoin has tentative resistance at the $60,000 level, but momentum from yesterday’s visa news should be enough to keep the bullish trend going strong,” senior market analyst for the foreign-exchange broker Oanda, wrote Tuesday in an email.