Volatility returned to crypto markets Monday as bitcoin spiked up to $79,480 before quickly reversing to $77,800.
The move began around 23:00 UTC with the opening of U.S. equity and CME bitcoin futures, a period that often sees heightened volatility.
By 05:30 UTC, the price began falling after it failed to break above the $80,000 level, dropping 2% in an hour.
The decline occurred as oil reached its highest level since the ceasefire between the U.S. and Iran began. Brent crude trades at $107 per barrel after U.S. President Donald Trump canceled plans to send U.S. officials for talks in Pakistan on Saturday.
Ether (ETH) recently traded around $2,320 after losing 2.2% since midnight UTC, underperforming bitcoin, which is down by…
