CryptoWatch: Bitcoin jumps after credit scare; Fidelity enters crypto sphere

Bitcoin rose sharply Monday after a credit scare on a major cryptocurrency exchange created a rush for the No. 1 digital currency.

After beginning the day around $6,200, bitcoin BTCUSD, +0.49% traded to an intraday high of $6,960.68 on the Kraken exchange. However, on the Bitfinex exchange, the third largest cryptocurrency exchange by volume, according to CoinMarketCap data, the price of bitcoin traded to an intraday high of $7,788, creating a premium of more than 10%.

The move higher in bitcoin came at the expense of Tether (USDT), the stablecoin on the Bitfinex exchange, which traded to 88 cents.

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