Bitcoin Rose About 3% Tuesday on Russia/Ukraine Optimism
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.
Recent Posts
Crypto Daybook Americas: Bitcoin Dominance Tops 64% While Options Indicate Bullish Tilt
By James Van Straten (All times ET unless indicated otherwise) Since May 22, bitcoin (BTC)…
GameStop Purchases Over $500M Worth of Bitcoin
Video game retailer GameStop (GME) has purchased 4,710 bitcoin, worth nearly $513 million at the…
Ether Favored Over Bitcoin by Big Money, Here Are 3 Clues That Point to ETH Bias in Crypto Market
The futures and options market, a proxy for big money, is increasingly backing ether ETH…
Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock
US Treasury Secretary Scott Bessent has signalled that the long-debated overhaul of banks’ supplementary leverage…
GameStop Buys $513 Million Worth of Bitcoin
Bitcoin Magazine GameStop Buys $513 Million Worth of Bitcoin Video game retailer GameStop has purchased…
Trump Media’s Stock Drops Despite $2.5 Billion Bitcoin Treasury Announcement
Trump Media (TMTG) announced that it has successfully raised $2.5 billion from institutional investors, marking…