Bitcoin edges past $30,000-mark as traders assess stablecoin fallout

Bitcoin edged above $30,000 on Tuesday in cautious trading as the fallout over a collapsed stablecoin continued to keep sentiment in check.

The world’s largest cryptocurrency rose 2% to about $30,500 as of 9:08 a.m. in London. Other coins from Ether to Avalanche also posted modest gains.

Bitcoin is nursing a 21% loss so far in May -- the worst monthly slump in a year -- following last week’s crypto sector turmoil over the collapse of the TerraUSD algorithmic stablecoin, also known by its ticker UST, and Tether’s brief dip from its dollar peg. 

“Small amounts of dip buying tentatively gave Bitcoin a