Bitcoin's price has risen above USD31,000 today, after dipping below USD30,000 and settling back towards the middle of the narrow band where it's been trading since mid-May, along with stocks. The largest and most popular cryptocurrency in the world increased by more than 6% to USD31,182.

Investor concerns about tighter monetary policy and stricter restrictions have been countered by optimism that Bitcoin has struck a bottom, keeping the cryptocurrency in a tight range around USD30,000.

The digital coin has lost more than 33% year to date and is trading well below its all-time high of USD69,000 set in November of last year.

On the other hand, Ether, the second-largest cryptocurrency and the coin tied to the Ethereum blockchain, increased by nearly 5% to USD1,830. Meanwhile, the price of dogecoin was up 3% to USD0.08 today, while the price of Shiba Inu was down nearly 4% to USD0.000011. The market capitalization of all cryptocurrencies is currently USD1.32 trillion, up about 2% in the last 24 hours.

Other digital tokens' performance increased as well, with Cardano, Stellar, Uniswap, XRP, Litecoin, Tron, Tether, Solana, Polkadot, Avalanche, Polygon, and Chainlink all seeing gains in the last 24 hours. Terra Luna Classic, on the other hand, dropped nearly 15%.

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