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Bitcoin Jumps to $40K as Putin Sees Positive Shift in Ukraine Talks

Europe equity benchmarks and the U.S. index futures extended gains while crypto majors jumped as much as 7.6%.Read MoreFeedzy

Bitcoin regained the $40,000 level in the past hour after reports of positive developments in talks between Russia and Ukraine amid the ongoing war.

Russian President Vladimir Putin said there was “positive movement” in negotiations, which were happening on a “daily basis.” Russia faces sanctions from western countries among others as leaders worldwide condemned the invasion of Ukraine.

Putin’s comments buoyed global markets. S&P 500 futures added 1.31% and futures on the tech-heavy Nasdaq 100 added 1.65%. Sentiment in Europe was stronger, with Germany’s DAX jumping 3.41% and Stoxx Europe 600 gaining 2.09%.

Crypto markets were mixed. Bitcoin jumped from $38,600 in European morning hours to slightly over $40,200 as Putin’s comments went public. Ether added 2.4% in the past hour alongside XRP and Solana’s SOL, while Polkadot’s DOT led gains with an 8% rally in the past 24 hours.

Bitcoin jumped to as much as $40,200 before a selloff. (TradingView)

Ukraine’s worsening situation has rippled across global markets. India saw an exodus of foreign capital to the tune of billions of dollars this week while Brent crude touched $140 a barrel. Demand for nickel – alongside a short squeeze – pushed prices of the metal to a record $101,000, while gold touched $2,070 on Tuesday, a level previously seen in August 2020.

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