Bitcoin (BTC) price trades in a very tight range on Monday. BTC has been falling since February 16 from the highs of $44,585.69 while devaluating 16% in total value. Risk aversion and the Geopolitical truce between Russia and Ukraine kept the riskier asset including the crypto market pressurized.
Bitcoin (BTC) price fall for the second straight day.
BTC dipped to touch two-week lows near $37k.
Risk-off sentiment undermines the demand for riskier assets.
In a recent development, Ukraine has reported shelling from Russia-backed separatists. On Sunday, French President Emmanuel Macron has proposed a dialogue between Russian President Vladimir Putin and his U.S. counterpart Joe Biden but that remains unheard.
As of press time, BTC/USD is trading at $37,670, down nearly 2% for the day. The world’s largest cryptocurrency by market capitalization holds a 24-hour trading volume at $23,913,778,719 with more than 40% losses.
BTC trades near crucial level
On the daily chart, Bitcoin’s (BTC)