Risk Aversion Pulls Crypto Market Down, Bitcoin Still Below $40K!
The crypto market is still reeling as a result of risk aversion triggered by Russia’s invasion of Ukraine.
On Monday, Bitcoin (BTC) fell for the sixth time in six days. It has again failed to break beyond the $40,000 barrier.
Bitcoin peaked at $39,536 before plummeting to a low of $37,192. It completed the day around $38,850, having found support at $37,000.
The news that the White House is set to issue the long-awaited crypto executive order shook crypto proponents on Monday.
United States President Joe Biden is expected to sign a long-awaited executive order this week directing the Justice Department, Treasury, and other agencies to examine the legal and economic consequences of creating a US central bank digital currency.