Bitcoin Holds Around $38k While Asian Stocks Tumble Bitcoin arrested recent losses on Monday, holding around $38,000 even as stock markets in Asia and Europe fell sharply on the prospect of Western plans to sanction Russian oil. Oil prices shot up to their highest level since the 2008 financial crisis on the prospect of a Russian blacklist, which increased fears of another surge in inflation. This rattled sentiment in equity markets, with most Asian bourses slumping more than 2%. Foreign exchange markets also felt the pain, with the currencies of major oil-importing countries, including India and Indonesia, logging heavy losses. Gold prices surged to above $2000, as increasingly negative sentiment boosted safe-haven demand. But the sentiment remains negative as the Bitcoin fear and greed index pointed to extreme fear, indicating that sentiment was comfortably bearish.