(Bloomberg) -- Bitcoin and other leading crypto assets spiked higher on Wednesday in the Asian trading session.
The largest virtual coin by market value added as much as 2.9% and second-ranked Ether climbed about 4%. Tokens ranging from Binance Coin to Dogecoin were also in the green.
A proximal cause for the rally wasn’t immediately clear.
Crypto markets have been fairly resilient following a slide lower when Sam Bankman-Fried’s FTX crypto empire tumbled into bankruptcy earlier this month.
At the same time, there are worries that more pain may lie ahead, with some prognosticators expecting Bitcoin to drop to as low as $10,000.
Bitcoin was trading just shy of $17,000 as of 10:05 a.m. in Tokyo.