Bitcoin traded below $70,000 on Monday, as the world's largest cryptocurrency continues to fluctuate around this level for the past few days.

Bitcoin's price dipped slightly, about 0.7% over the past 24 hours, to trade at $69,700 at around 3:15 a.m. EST, according to The Block's Price Page. Ether traded down 1.8% at $3,550.

“Currently, prices are moving sideways with no clear catalysis to move prices up or down,” Justin d'Anethan, head of APAC business development of crypto market maker Keyrock, told The Block. “With a range [between] $69,000 and $71,000 for the past four days, it seems that investors are unwilling to breach all-time highs but also that any selling is met with a healthy demand.”

Lucy Hu, a senior analyst of Metalpha, said that the dipping in price appears to be part of …