Bitcoin experienced a slight price variation on Monday with a marginal improvement in risk appetite following relief from certain U.S. exemptions on tariffs against China, although fears of an escalation in the trade war kept traders on edge.
Cryptocurrency markets have suffered from significant fluctuations over the past few weeks as the trade war between the two largest economies in the world has intensified, negatively impacting risk-focused global markets.
Bitcoin had fallen to $74,000 but has since rebounded strongly from those low levels after U.S. President Donald Trump made significant concessions in his tariff plans to key trading partners. However, China did not benefit from these concessions.
The world's largest cryptocurrency rose by 0.6% to $84,521.0 at 5:06 PM Saudi Arabia time.