Crypto markets experienced a resurgence of volatility on Monday, with bitcoin surging to $79,480 before promptly retreating to $77,800. The volatility commenced around 23:00 UTC, coinciding with the opening of US equity markets and CME bitcoin futures, a period typically marked by heightened price fluctuations. By 05:30 UTC, the price began to decline after failing to surpass the $80,000 mark, resulting in a 2% drop within an hour.
This downturn occurred as oil prices reached their highest level since the US-Iran ceasefire, with Brent crude trading at $107 per barrel following US President Donald Trump's cancellation of planned talks in Pakistan. Meanwhile, Ether traded at approximately $2,320, having lost 2.2% since midnight UTC, underperforming bitcoin's 1.1% decline but faring better than several altcoins that experienced more pronounced losses.