Bitcoin price traded near $79,600 on Thursday morning, up about 2% from a day earlier but roughly $21,900 below its price one year ago, after slipping back under $80,000 as oil prices recovered and the Bank of England raised interest rates, according to Bitcoin Magazine Pro data.

Bitcoin changed hands at $79,632 at 8:05 a.m. ET, with a market cap of about $1.60 trillion and roughly $35.2 billion in trading volume over the past day.

The move gives back a slice of Wednesday’s rally. Bitcoin price held near $80,000 through Wednesday afternoon and stayed above that level overnight, peaking just under $80,900 around 5 p.m. ET. It dipped below $80,000 in the 7 a.m. ET hour on…

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