Bitcoin fell below $70,000 on Monday, sliding to $69,037 after last week’s volatile swings that saw it drop to $60,033 before rebounding above $70,000.

The cryptocurrency has struggled to maintain bullish momentum despite institutional adoption and a crypto-friendly U.S. administration.

Volatility remains high, with the Bitcoin Volmex Implied Volatility Index spiking above 97%, the largest intraday jump since the 2022 FTX collapse.

Investor interest remains, as U.S. Bitcoin ETFs recorded $221 million in inflows on Feb. 6, signaling attempts to buy the dip, Bloomberg has reported.

Analysts warn that markets may continue to see sharp swings, with potential moves below $62,000 or above $76,000 in the near term.