Bitcoin unexpectedly surpassed $44,000, hitting $44,793.60 on March 1, checking for recent gains at the Wall Street opening. Now analysts are looking at the next technical levels for BTC and ETH…
Analysts identify levels after $45 in BTC and $3,000 in Ethereum
According to data from TradingView, BTC/USD fell from its local high of $44,980 on Bitstamp on the opening bell. March 1 continued a fairly mild phase for US stocks with oil only, reflecting the knockout effects of the Ukraine crisis on the second day of trading with the armed conflict in Europe in the background. Bitcoin, on the other hand, managed to retain most of its resurgent gains on March 1. BTC/USD is up 14% at the time of writing compared to a week ago.
“$44,000 has been tried a million times, I wouldn’t want to be caught missing this,” DonAlt, a popular Twitter analyst, said in an analysis of short periods. “$40 is strong support if we experience an unexpected drop,” the analyst says.
Russia-Ukraine crisis confirms Bitcoin (BTC) safe haven
As the Ukrainian scenario emerged late last week, Bitcoin’s image as a possible safe-haven in times of unrest rose and reversed previous losses. Charles Edwards, founder of crypto fund Capiole, said:
Bitcoin has proven to be a safe haven in these uncertain times. Since the invasion of Ukraine, it has outstripped all other asset classes by orders of magnitude.
BTC/USD was falling towards the $43,600 level, which was previously identified by fellow Nebraskan Gooner as a critical level for a daily close.
Smaller cryptocurrency wallets reach new heights
In particular, the use of Bitcoin (BTC) and Ethereum (ETH) wallets has increased. Smaller ETH addresses holding at least 0.01 ETH and BTC addresses holding at least 0.1 BTC set all-time highs, according to data from on-chain analytics firm Glassnode. As of March 1, 21.9 million 0.01 ETH wallets and 3.35 million 0.1 BTC wallets were found.
At the time of writing, Bitcoin (BTC) and Ethereum (ETH) are trading in the $43,300 and $2,900 zones, respectively. cryptocoin.com Here you can find the latest developments from Solana, Cardano and Ripple.
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