Bitcoin Jumps To $40k As Putin Sees “Positive Movement” In Negotiations
11 Marzo 2022 - 04:40PM
NEWSBTC
Bitcoin has reclaimed the $40,000 mark in the last hour, following
indications of progress in discussions between and Ukraine amid the
ongoing conflict. Russian President Vladimir Putin stated that
“positive movement” was being made in the negotiations on a “daily
basis.” Russia is facing penalties from Western countries, among
others, as world leaders criticize the invasion of Ukraine. Bitcoin
Spikes Following Putin Remarks The spike came in the wake of new
comments from Russian President Vladimir Putin, who indicated in a
meeting with his Belarussian counterpart, Aleksandr Lukashenko,
that there had been “positive shifts” in the Ukraine dynamic. Putin
said improvements has been made in the talks between the Kremlin
and Ukraine: “There are certain positive shifts, negotiators on our
side tell me.” BTC/USD trades close to $40k. Source: TradingView
Putin’s remarks boosted global markets. Futures on the S&P 500
rose 1.31%, while futures on the tech-heavy Nasdaq 100 rose 1.65%.
Sentiment in Europe was higher, with the DAX in Germany rising
3.41% and the Stoxx Europe 600 rising 2.09%. At the time of
writing, BTC/USD volatility remained high, with bulls aiming to
break through $40,000 resistance more convincingly. The increasing
volatility had an effect on liquidations as well, with over $24
million in leveraged positions being wiped off the market in the
last hour alone. The largest single liquidation order was on Bybit,
worth about $6 million. Explosive growth in #Bitcoin bitfinex
shorts hate to say it, capitulation incoming
pic.twitter.com/FTQGt41UBQ — Cole Garner (@ColeGarnerXBT) March 11,
2022 Related Reading | Bitcoin On Course To Hit $100K Nine
Months From Now, Bitbull CEO Predicts Traders Unsure Of Market The
cryptocurrency market remains volatile. Bitcoin rose from $38,600
in European morning hours to little more than $40,200 after Putin’s
remarks were made public. Ethereum, XRP, and Solana’s SOL all
gained 2.4% in the last hour, while Polkadot’s DOT led advances
with an 8% rise in the last 24 hours. However, it’s worth
mentioning that Russian troops are rumored to be gathering around
Kyiv, and some foresee a possible effort to encircle the capital.
Adam Cochran, a well-known crypto critic and analyst, commented on
the contradicting signals, saying: “Markets are so thin and so
desperate for relief that we’re moving on vague positive news in
the Russia-Ukraine conflict while both sides also release worsening
statements and escalating action.” Bitcoin stayed at the lower end
of its established trading range, with the area north of $42,000
proving impossible to hold for long in 2022. The latest price
action, however, was a godsend for some traders, with popular
Twitter account Anbessa informing followers that everything was
going as planned. $BTC/USD Update 📈✅ 🔹bullish divergence playing
out ✔️🔹4th entry -> 4 bounce up 3% pic.twitter.com/QqZnheFLyQ —
AN₿ESSA (@Anbessa100) March 11, 2022 The deterioration of Ukraine’s
position has sent shockwaves through global markets. This week,
India saw a massive outflow of foreign capital worth billions of
dollars, while Brent crude hit $140 per barrel. Related Article |
Billionaire Investor Says Crypto Outlook Is ‘Very Bullish’ For
Bitcoin Featured image from Getty Images, chart from
TradingView.com
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