BTC Financial News

Bitcoin price remained supported above the USD 43,500 level and climbed above USD 44,500 before correcting lower again. It is currently (04:25 UTC) consolidating gains near USD 44,888 and is up almost 3% in a day.

Bitcoin, the world’s largest cryptocurrency, has been in the news a lot recently thanks to its price action struggles. Despite these concerns, however, the demand for Bitcoin ETFs has remained strong. In fact, according to recent statistics, the Purpose Bitcoin ETF hit an all-time high in terms of holdings.

Bitcoin price started a strong upward move after it broke the USD 40,000 resistance. BTC was able to clear the USD 44,000 resistance and is currently (12:44 PM UTC) showing positive signs above USD 44,300.

Bitcoin price broke the main USD 40,000 resistance to start a strong uptrend. It is currently (04:02 UTC) trading near USD 43,200 after briefly spiking to almost USD 44,200. 

Bitcoin and Ethereum may feel risky to hold when considering the ongoing COVID-19 pandemic, the Russia-Ukraine War, rising inflation rates, and other global events. In fact, prices have been darting between red and green in a matter of days, if not hours, and investors are on high alert. However, data seems to suggest that there’s more nuance to it all.

Bitcoin price made a few attempts to clear the USD 39,000 resistance but corrected lower and is now (13:53 UTC) trading near USD 38,000.

Bitcoin price gained pace for a move above the 38,500 resistance zone. BTC attempted an upside break above USD 39,500 and USD 40,000 but corrected lower as Russia’s president Vladimir Putin put Russia's nuclear deterrent on high alert on Sunday in the face of a barrage of Western reprisals for his war on Ukraine. 

Bull or bear market? That’s the question on many investors’ lips as Ukraine tries to resist Russia’s invasion. However, Bitcoin traders need to look at what different actors are doing right now while maintaining a cautious outlook.

Russia is waging war against Ukraine and economists worldwide are trying to keep their heads above the water. As the crypto market reacts to these political ruptures, a new investor might be wondering whether they should be fearful or greedy. To that end, some crypto traders and analysts have shared their opinions.

Bitcoin price suffered a fatal setback after Russia attacked Ukraine. The same effect was seen across financial markets, including Russia’s stock market. Despite this sudden downswing, BTC’s on-chain metrics show signs that indicate a quick turnaround.

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

Disclaimer: The text below is an advertorial article that was not written by Cryptonews.com journalists.

The immense success that the cryptocurrency industry has experienced over the past couple of years was facilitated not just through Bitcoin‘s rising popularity, but also the emergence of sectors such as decentralized finance. While the sector grew many-fold since mid-2020, it also fostered the growth of tokenized assets that aid in DeFi trade. For instance, stablecoin usage grew 370% in 2021, as compared to the previous year.

Bitcoin price started a strong upward move above the USD 36,500 and USD 37,000 levels. BTC even rallied above USD 38,000, but faced sellers near USD 39,500. It is currently (11:25 UTC) consolidating gains near USD 38,500 and is up almost 10% in a day. 

After testing the USD 34,500 yesterday, bitcoin price jumped 12% and is now (04:18 UTC) trading above USD 38,900.

Russia’s invasion of Ukraine has sparked a sharp selloff in bitcoin. BTC declined below the USD 35,000 level and is currently (11:50 UTC) trying to recover losses once again.

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.

The whole crypto market once again followed the stock market and tumbled on Thursday as Russia's president Vladimir Putin ordered a “special military operation” to protect the people of the Donbas separatist region in Ukraine, but said Russia will “aim for demilitarization and denazification of Ukraine,” per Bloomberg. It is estimated that Putin had massed 150,000 troops on the border. In a speech on Thursday, Putin appealed to Ukrainian soldiers to lay down their arms and go home. He said Russia doesn’t plan to “occupy” its southern neighbor, but that Russia must “defend itself from those who took Ukraine hostage” -- the US and its allies who had crossed Russia’s “red line” with expansion of the NATO alliance, per the report. 

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

While Bitcoin Futures Exchange Traded Funds (ETFs) launched with full fervor and record-breaking numbers in October last year, their performance has since dwindled thanks to the larger market’s depreciation. For instance, the ProShares Bitcoin Strategy ETF (BITO) was down 5.26% from yesterday’s close, at the time of writing.

Bitcoin has suffered a lot over the past two weeks. It traded in the red early on 23 February thanks to the uncertainty around the Russia-Ukraine crisis. Russia’s actions towards Ukraine have prompted the United States and Europe to vow sanctions. This has cast a long shadow over global markets, including cryptocurrencies.