Wall Street open sends Bitcoin to $40K as latest BTC price surge passes 6%
Bitcoin (BTC) got a boost from the start of Wall Street trading on Feb. 28 as U.S. stocks opened to a defining week for markets amid geopolitical tensions.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $40,560 on Bitstamp after the opening bell on Feb. 28.
The move concluded what had been a relatively calm weekend punctuated only by a comedown into the weekly close.
With the monthly close approaching, eyes were on whether Bitcoin could definitively avoid sealing a fourth month of declines in a row.
Now can we go? #Bitcoin Gaining the upper range ($40.8k-$44.4k) and holding trading elevates the safety of the bullish structure formed. $37k absorbed all liquidity? If so, price will respond by breaking $44.4k pic.twitter.com/oyA805nX7l
With the Wall Street gap up totaling $1,900 in an hour, the mood among traders favored an attack of $40,000 resistance to reassert presence higher.
For popular trader and analyst Crypto Ed, $42,000 was an area of interest.
#BTC updateStill confident about that move to 42k which I shared as 1 of the first on thursday....BTC reached my green box yesterday but the bounce is stalling. Could even do 1 more leg down and I'm still confident. Will trade it only after more confirmation tho. pic.twitter.com/udW9VWaOjw
U.S. stocks were meanwhile unexpectedly calm on the open in the wake of a sea change in relations with Russia, including the almost total ban on transacting with its central bank.
The S&P 500 traded down around 1% at the time of writing, with the Federal Reserve possibly already taking action to cushion the blow of Russian sanctions.
"From here, the idea is that if BTC can break 39.5k I think 41.5/42.0k comes next, and I'd expect LUNA to continue outperforming.
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