Bitcoin jumps 9.4% to climb back above $40,426 after 2 weeks; Ether up 11%

strong earnings from Inc bolstered confidence in technology stocks, which digital tokens have largely tracked over the past months

cryptocurrency by market value jumped as much as 9.4% to $40,426, the most since Oct. 15. It hasn’t been above $40,000 in more than two weeks.

“The fact that AMZN’s earnings went the way of AAPL, MSFT and GOOGL -- and not the way of FB -- has given investors more confidence to reengage with the risk-on trade," said Matt Maley.

Over the last two days, Bitcoin correlated to Facebook declines, and on Friday to Amazon gains, according to Ouellette.

“In spite of today’s move from a technical perspective I don’t think we can start saying anything definitive until at least a definitive breakout beyond" $40,000 to $41,000, he said.

He also cited the restoration of $320 million from the Wormhole hack and oversold technical levels for bolstering the mood.