Why Bitcoin, Ethereum, and Dogecoin Spiked Early This Morning

Between the hours of 3 a.m. and 4 a.m. ET, Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), and Dogecoin (CRYPTO: DOGE) each saw a rather sizable spike. Bitcoin went from around $47,000 per token to $48,300 per token. Ethereum surged from $3,700 per token to $3,800 per token. And Dogecoin rose from $0.171 to $0.175 over this time frame.

Today, these top cryptocurrencies are up 1.4%, 1.9%, and 0.5% as of 10:30 a.m. ET, largely as a result of this early-morning spike.

It appears that the market sell-off heading into the end-of-year options expiry for Bitcoin and other key tokens is at play with this move. These top tokens have recovered some of their losses from the past week, though each remains more than 5% lower over the past seven days.

Source Fool.com