A Green Market Following Surge In Bitcoin-Ruble Trading Volume, Full Recovery Underway?

Bitcoin surged to $44,000 overnight on March 1 after a Monday rise produced surprising results. Bitcoin has gone on a tear in the last day or so, gaining over $6,000 and breaking beyond $40,000 for the first time since the Russian-Ukraine conflict began. The majority of altcoins saw significant gains as well, with Ethereum approaching $3,000 and Terra erupting by 20%. Bitcoin See Trading Volume Rise BTC/USD reached $44,250 before stabilising, according to data from TradingView, and was remained above $43,000 at the time of writing. Analysts had been struggling to predict what Bitcoin price movement will do next against a highly uncertain macro backdrop, a mindset that persisted as local highs surfaced. The bitcoin market was impacted by Russia’s decision to conduct a special military campaign against Ukraine. Bitcoin was trading about $39,000 before plummeting $5,000 to just over $34,000 on a monthly basis. When the West announced that it would not become directly involved in the conflict, BTC began a rapid recovery and regained all of its lost value in hours. Furthermore, the asset continued to rise and was even challenged for $40,000 a few days later. Crypto liquidations chart. Source: Coinglass While initially unsuccessful, the asset was able to reclaim that desired level yesterday, according to reports. It rose further, reaching $44,000 for the first time since February 17, resulting in nearly $300 million in holding...