Bitcoin settled higher on Tuesday after the No. 1 cryptocurrency briefly dipped below $6,000 in early trading.

Bitcoin BTCUSD, +0.79% touched a low at $5,947.40 early Tuesday, its lowest level since mid-November, as global equities exhibited a newfound state of volatility. However, the doom and gloom subsided, and as equities turned higher, bitcoin surged, rising by as much as $1,800 from its lows, according to CoinDesk.