It appears that buyers are starting to return, which typically occurs during the second half of the month – a pattern observed by some analysts this year.
For example, fighting between Russia and Ukraine intensified over the past weekend, which kept some investors on edge.
For now, some alternative cryptocurrencies outperformed bitcoin on Monday, indicating a greater appetite for risk among traders.
Still, buy volume and sell volume were balanced on Monday, suggesting indecision among buyers and sellers.
So far, technical indicators are neutral.
“The magnitude of this one shows things have moved from small exploits to true national security concerns,” Ari Redbord, head of legal and government affairs at blockchain research firm TRM told Business Insider.
According to CoinDesk’s Nikhilesh De and Danny Nelson, the Treasury Department added an Ethereum address to its sanctions list on Thursday.
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