Bitcoin trades below 105,000 USD, reflecting negative sentiment driven by the escalating Russia-Ukraine conflict. Investors lean towards safe-haven assets, impacting risk assets like BTC.
Weakness in institutional demand is evident, with Bitcoin ETFs seeing a significant outflow last week. MetaPlanet’s purchase of 1,088 BTC could provide some support for the price.
Historical data suggests Bitcoin struggles in June, facing potential corrections as traders react to geopolitical uncertainty. BTC bears are targeting the psychologically significant level of 100,000 USD.
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