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Crypto traders rush to hedge after bitcoin drops below $80,000: Crypto Markets Today

Crypto traders rush to hedge after bitcoin drops below $80,000: Crypto Markets Today

Bitcoin tumbled back below $80,000 late Thursday after the U.S. launched fresh airstrikes in Iran, causing brent crude oil to briefly top $100 per barrel before giving back a portion of gains during Asia and European hours.

The crypto market was already slightly jittery after Strategy chairman Michael Saylor said that the company would consider selling bitcoin to cover dividend payments from its STRC, a u-turn from its previous “never sell” strategy.

Ether (ETH) is trading at $2,280 having lost 0.2% since midnight UTC and around 2% over the past 24 hours, with other altcoins like monero (XMR) and dash (DASH) losing between 4% and 5%.

The broader crypto recovery remains intact with bitcoin having rallied from $65,000 in late…

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