The crypto market experienced a rare period of volatility during Asia hours on Monday, with bitcoin tumbling more than 5% to $64,270 shortly after midnight UTC before bouncing back to $66,300 by 11:00 UTC.
The selloff and subsequent bounce mirrored the action in U.S. equities. Futures tracking the S&P 500 index fell by 0.84% after opening on Sunday evening before starting to recover five hours later.
Gold futures did the opposite, rising on Sunday evening’s open to the highest since Jan. 30 before giving back some of those gains during European hours. Silver tracked the more expensive metal.
The surge in precious metals alongside weak performance in risk assets comes after U.S. President Donald Trump said he planned to impose…
