Volatility reared its ugly head for a second day after growing fear of the new Omicron COVID-19 variant and the Federal Reserve’s admission that an earlier-than-expected adjustment to its bond-buying program continues to impact global stock markets. These concerns appear to have had an impact on price. This morning the digital asset fell from $59,175, its intraday peak, to $55,875.

It’s not all bad news for crypto holders, however, as several altcoins have racked up notable gains over the past 24 hours.