Bitcoin Stabilizes Amid Geopolitical Uncertainty

The leading cryptocurrency reverses earlier losses in seesaw trading.

Bitcoin (BTC) and other cryptocurrencies experienced sharp price swings over the past 24 hours amid Russia's invasion of Ukraine.

The market capitalization across all cryptos slid toward $1.5 trillion, losing almost 9%. Bitcoin fell as much as 7%, although the crypto pared earlier losses and had returned above $38,000 at press time. Most alternative cryptocurrencies underperformed bitcoin over the past 24 hours.

Bitcoin's trading volume across major spot exchanges reached its highest level in a month, according to CoinDesk data. Typically, high volume corrections could signal capitulation among sellers.