Bitcoin is losing ground due to increasing risk aversion in the financial markets. The price of the oldest and best-known cryptocurrency fell to $53,000 in early trading on Monday. That is around $8,500 or almost 14 percent less than late Friday evening. Bitcoin had already fallen sharply last week. With the loss on Monday, the Bitcoin price also fell back to the level of late February, after climbing to a record high of almost $74,000 in mid-March.