(Bloomberg) -- Bitcoin rallied more than 6% in Asian trading on Friday, taking the world’s largest digital currency back toward the closely watched $20,000 level.

The token rose as much as 6.6% and was trading at $19,866 as of 9 a.m. in Tokyo. A range of other virtual coins, from Ether to Solana to Avalanche, were also in the green.

Bitcoin has been gyrating around the $20,000 mark after a 57% slide this year. The retreat has become somewhat emblematic of depressed spirits in global markets amid tightening monetary settings that are draining liquidity from a range of asset classes.

©2022 Bloomberg L.P.