ETH Financial News

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. 

Ethereum over the last two days has recovered by 20.88% from its lows of $2598. And, as the market is beginning to shift gears, the king altcoin is looking at a much bigger growth now. Well, that can only be possible if the bullish pressure continues to build up.

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

All you need to know about ‘developed’ Ethereum network’s (Almost) 300K validator nodes

As Russian bombs fall on Ukraine and reports of deaths are coming in, the international community has been struggling to mobilize resources and send funds to various organizations in order to support Ukraine’s army. For that reason, it might not surprise many to know that there’s already an NFT collection aimed at fulfilling this need.

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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. 

The entire cryptocurrency market witnessed a significant amount of price corrections over the past couple of weeks. Selling pressure on different crypto exchanges was estimated to aggravate by another 10-15% over the short term. Keeping all that in mind, here’s how investors reacted to such headwinds.

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.

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. 

Bitcoin price gained pace above the USD 37,000 level and was able to clear the USD 38,500 resistance. It is currently (11:59 UTC) showing positive signs near USD 38,900 and might rise to USD 39,500.

Bitcoin price started an upside correction above the USD 37,000 level. BTC even climbed above the USD 38,300 level, but it failed to gain strength and is currently (04:14 UTC) trimming gains near USD 37,900. In either case, it’s up 3% in a day.

While there has been no dearth of hacks and exploits within the cryptocurrency space, one of the most infamous ones transpired in 2016. At the time, around 3.64 million Ether were siphoned off The DAO protocol. The hack remains unsolved to this day. However, crypto-journalist Laura Shin is now claiming to have uncovered new evidence from the hack. Evidence that has apparently led her to the perpetrator – an Austrian programmer named Toby Hoenisch.

Bitcoin price attempted a recovery wave above USD 38,000. However, BTC failed to surpass the USD 39,500 resistance level and is currently (04:22 UTC) trading near USD 36,700, dropping 6% in a day and reaching almost three-weeks lows.

Bitcoin price faced sellers near USD 39,500 and is currently (11:57 UTC) trimming gains near USD 37,500 while remaining at risk of more downsides.

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Bitcoin price remained in a negative zone and settled below the USD 40,000 level. BTC even traded below USD 38,800 and tested USD 38,000. It is currently (04:21 UTC) correcting losses above USD 39,000, but the bears might remain active near USD 40,000.

Deep-pocketed crypto investors on the smart contract platform Ethereum (ETH) were trending in the news with their acquisition. The top 1,000 whales by assets increased their exposure to the meme-inspired cryptocurrency Shiba Inu (SHIB).

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