Bitcoin Financial News

Coinbase, the largest cryptocurrency exchange in the United States, is expected to release its fourth-quarter earnings report on February 24, 2022, EST. Wall Street analysts project a brief winter in the cryptocurrency market due to the war occurred between Russia and Ukraine.

Bitcoin slumped to a one-month low on Thursday after Russian forces fired missiles at several cities in Ukraine and landed troops on its coast, sparking a sell-off of riskier assets.

In the event of harsh Western sanctions, Russians’ savings could be confiscated, according to Nikolai Arefiev, a member of the Communist Party of the Russian Federation and vice-chairman of the Duma’s committee on economic policy.

Order books, essentially the list of orders that a trading outlet implements to show the interest of buyers and sellers, show considerable buyer interest in the $30,000 region on large exchanges Coinbase and Binance.

As Russia's president Vladimir Putin ordered a full-scale invasion of Ukraine, and Bitcoin (BTC) might play a role on both sides of the conflict, Ukraine is seemingly better prepared to embrace the nascent monetary technology.

Bitcoin (BTC) and crypto are likely to play a role in both sides of the conflict after Russia launched a full-scale invasion of Ukraine.

The crypto market cap stood at $1.58 trillion on Thursday after Russia ordered military action in Ukraine as against the $3 trillion mark scaled in November 2021. In terms of value, the fall in the global crypto market-cap is higher than the GDP of countries like Australia, Spain, Saudi Arabia, South Korea, Mexico, Turkey, Netherlands and Indonesia.

Bitcoin fell to its lowest in a month on Thursday after Russian forces fired missiles at several cities in Ukraine and landed troops on its coast, sparking a sell-off of riskier assets and sending oil past $100 a barrel.

Bitcoin plunged 8% on Wednesday night to as low as $34,778, the lowest level since Jan. 24, as Russian President Vladimir Putin announced a military operation in Ukraine.

cryptocurrency market, in line with global equity markets, witnessed steep falls on Thursday. The mushrooming tensions between Russia and Ukraine have dampened the sentiments once again. The largest cryptocurrency and other altcoins declined into red territory after Russian president Vladimir Putin ordered military operation in eastern Ukraine. Putin made the announcement in a televised speech at the same time as the UN Security Council was urging him to give peace a chance. Barring Terra all of top digital tokens were trading lower. Avalanche plunged more than 7 per cent, whereas Bitcoin, Ethereum, Cardano, and Dogecoin tumbled between 4 and 5 per cent.

MATIC price seems to be recuperating quicker than many altcoins after the recent flash crash. The downswing found a stable support level capable of absorbing the incoming selling pressure and reversing the trend. Therefore, market participants can expect Polygon to embark on a quick run-up to significant hurdles.

Bitcoin (BTC) fell to $34,300 overnight on Feb. 24 as geopolitical tensions in Europe boiled over. 

Global crypto and stock markets plunged after Russian President Vladimir Putin announced on a national broadcast that his army would conduct a “special military operation” in Ukraine. 

The global cryptocurrency market-capitalisation fell 5.78 percent over the last 24 hours to $1.61 trillion, while trading volumes were down to about percent to $12.72 million, falling by around 99.98 percent.

Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it. "RBI's view is quite known on crypto. I think it is the one of the views that has actually delayed a bill on that subject but we will engage in a fair debate on that subject and will look at all sides of the debate," Patra said, speaking at an event organised by the Pune International Centre.

Short term social media data suggests that traders aren't calling for buying the Bitcoin (BTC) dip right now... but the long term picture is much brighter, with separate research showing that 77% of family offices in the U.S. are either looking at, or have invested in crypto.

Bitcoin miners are feeling the heat - and the pain's rippling downstream to pressure prices.

There has been a lot of focus on the performance of the stock and cryptocurrency markets over the past year or two as the trillions of dollars that have been printed into existence since the start of the Covid pandemic have driven new all-time highs, but analysts are now increasingly sounding the alarm over warning signs coming from the debt market. 

Bitcoin (BTC) and several altcoins have bounced off their immediate support levels after buyers attempted to arrest the current decline. Bloomberg Senior Commodity Strategist Mike McGlone highlighted in a recent Tweet that Bitcoin was trading roughly 20% below its 50-week moving average and such discounted levels have “often resulted in good price support.”

The US Federal Reserve (Fed) aims to get inflation down with its interest rate hikes this year. Longer-term, however, inflation might still remain as the winner, with bets on bitcoin (BTC), ethereum (ETH), and gold expected to pay off. But until then, volatility could flush out even the most dedicated crypto holders, crypto exchange BitMEX warned.

Disclaimer: The findings of this analysis are the sole opinions of the writer and should not be considered investment advice