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. Price appears to be affected by these worries. Today’s digital asset saw a decline from the $59,175 intraday peak and fell 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.