While the war between Ukraine and Russia continues bitcoin and cryptocurrency The rest of the market was running parallel to the traditional markets.
S&P 500 and Nasdaq light Despite the positive opening, Bitcoin price jumped above $ 41,000 with a sudden attack. According to experts, at least for now, the correlation may have been broken.
On Thursday last week, with the news of the war, the Bitcoin price dropped to $ 34,700 and the whales made large transfers.
Since January 24, BTC transactions over $100,000 and over $1 million peaked for the first time.
“Sanctions Against Russia Received Positively by Bitcoin Market”
Stack Funds analyst Lennard Neo commented on the current situation:
“The moves to leave Russia alone and destroy its economy seem to have been positively received by the market at the moment.
At the time of this writing, Bitcoin is trading at $ 41,319.
“Technical Indicators of BTC Price Pointing to a Hold of $41,000”
Laurent Kssis, crypto ETF expert and director of CEC Capital, claimed that BTC’s technical signals appear to be strong enough to hold $41,000.
Kssis also said that he thinks there may be a slight increase in the middle of the night. According to the analyst, the 10% appreciation of the BTC price against the dollar in the last two hours indicated that investors are making bigger moves and helping to build confidence.
*Not investment advice.