Bitcoin spent much of Thursday regaining ground lost in the fitful aftermath of the U.S. central bank's latest interest rate hike a day earlier.

The largest cryptocurrency by market capitalization was recently trading around $19,350, up about 5% over the past 24 hours. BTC dipped below $18,400 late Wednesday afternoon (UTC), its lowest level since early June, following the Fed's 75 basis point increase, but crypto investors started to return in Thursday's early hours.

Ether was recently changing hands at about $1,330, a 7% gain from the previous day when it dropped below $1,250 for the first time since July. The second largest crypto by market value has declined in recent days amid wider economic concerns and a post Merge hangover. The Merge is the technological overhaul of the Ethereum blockchain to a more energy efficient proof-of-stake protocol.

Other cryptos followed a similar path, beginning their rallies from the previous day's carnage early Thursday and spending most of the day in the green. XRP and CHZ recently jumped more than 20% and 16%, respectively. ALGO rose over 11%.