Bitcoin gained 4.5% to US$37,983 in afternoon deals, mirroring a rebound in wider global markets, as crypto investors took advantage of the recent sell-off to hunt for bargains.
Ethereum was also in favour, outpacing its larger rival with a 7% jump to US$2,584.
Digital tokens are enjoying a relative calm after the turmoil of recent weeks, which saw prices slump more than 45% on regulation fears, the prospect of rising interest rates and a clampdown on Bitcoin mining.
It remains to be seen whether ‘buy the dip’ will persist but Bitcoin and Ethereum appear to be finding some much-awaited support.
Elsewhere the modest positivity carried across most of the so-called ‘alt-coins’.
BNB, Solana, and Cardano climbed 5.0%, 5.7%, and 4.9% respectively, while doggy meme-coins Dogecoin and Shiba Inu rose 7.8% and 3.6%.
Deeper down the pecking order, Avalanche, Polygon, Crypto.com Coin, and Near Protocol advanced 9.4%, 11.0%, 9.1%, and 13.3% respectively.
This upbeat feeling echoed across the majority of the crypto market with 48 of the top 50 most valuable cryptos trading in green territory.
Terra and Cosmos bucked the trend, easing 3.0% and 3.3% respectively.