Bitcoin begins a new week with the surrender of positions

Bitcoin begins a new week with the surrender of positions

Bitcoin on Monday, March 7, again fell below $38,000. The cryptocurrency fell to $37,596 on some trading floors during Asian trading.

Ether (ETH) fell in price by 4.56% to $2526. Almost all leading altcoins are trading in the red zone. Binance Coin (BNB), XRP, Cardano (ADA) and Solana (SOL) fell to $371, $0.739, $0.817 and $83 respectively. The crypto market’s capitalization fell to $1.713 trillion.

Bloomberg notes that the rollback of Bitcoin is observed against the background of another jump in oil and other commodity prices.
OANDA strategist Edward Moya forecasts that the local bottom of the BTC will find around $37,000.

Selling was observed throughout the Asian session.

As European markets connected, BTC was able to rebound slightly. At the time this review was published, Bitcoin had risen to $38,061. Uncertainty in the crypto market will remain until energy and metal prices stabilize, said former Goldman Sachs Group Inc CEO Lloyd Blankfein.

The situation should stabilize over the next few days. However, if Western countries continue to intensify sanctions pressure, analysts expect new turbulence

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Written by Renat
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