Post ContentRead MoreFeedzy
Bitcoin retook the $44,000 level today, rising alongside equity markets after Russia announced the movement of some troops back to their home bases following exercises.
“Perhaps the risk-off sentiment is waning, barring further escalation in tensions with Russia,” said Richard Usher, head of over-the-counter (OTC) trading at BCB Group. Overnight, a Russian Ministry of Defense spokesperson said some troops in the country’s Southern and Western Military Districts would be moving back to their home bases following the completion of drills.
Bitcoin’s (BTC) 3% advance today is its biggest increase since Feb. 7 and comes as the Nasdaq gained 2% and the S&P 500 1.4%. Other notable crypto moves include ether (ETH), up 6%, and solana (SOL), ahead 5%.
Also in the news was last night’s invocation by Canadian Prime Minister Justin Trudeau of the Emergencies Act in response to the country’s trucker protest. The move allows banks to immediately freeze or suspend bank accounts of citizens without a court order or fear of civil liability. Many bitcoin fans are calling the action “free advertising” for the crypto.
DISCLOSURE
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Bitcoin is facing a critical juncture as its macro retracement converges with a tight mid-range…
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the…
Bitcoin’s bearish momentum has since reached a cool-off state, as price maintains above the last…
Executive John Ameriks emphasized Vanguard's core view of the crypto sector hasn't changed, seeing the…
The recommendation is in line with other global asset managers like BlackRock and Bank of…
The Bitcoin market is experiencing a gradual trend reversal following weeks of prolonged price correction…