Bitcoin (BTC) began a jittery weekend around $39,000 on Feb. 26 after an overnight spike briefly saw a return to $40,000.
Stocks rise, but “fear” prevails
The data from Cointelegraph Markets Pro and TradingView revealed calmer conditions for the BTC/USD pair on Saturday after overnight volatility hit highs of $40,330 on Bitstamp.
With the traditional markets closed, the probability of “false” moves up or down increased thanks to lower weekend volumes in the crypto markets.
Geopolitical turmoil centered on Ukraine and the Russian occupation formed the backdrop for continued cautious sentiment.amid concerns that Monday, in particular, could bring new instability.
The Crypto Fear & Greed Indexwhile inching toward the end of the week, remained in the low “fear” zone at 26/100.
In the meantime, A possible upside for Bitcoin bulls came from the weekly chart. With its recent low of $34,300 in the Ukraine invasion, BTC, however, managed to post a higher low compared to January’s $32,800 crash.
If that held, trader and analyst Rekt Capital believed, the February drop to $45,500 would likely prove to be a “necessary” consolidation move.
Mission AccomplishedUSDBTC #crypto #bitcoin pic.twitter.com/IYHnRJFDlu
— Rekt Capital (@rektcapital) February 25, 2022
In the meantime, Macro markets ended the week on a high, with significant rebounds for both European and US indices.
The US dollar, which had strengthened when hostilities began, gave up most of its gains.and the US dollar currency index (DXY) returned to 96.5 from highs of 97.7.
LUNA leads the top ten altcoins
Altcoins provided a mixed but still strong picture overall on Saturday, with major tokens led by Terra (MOON), increased almost 50% in one week.
With Bitcoin Coolingsome late gains were still taking place, even for XRPwhich was 10.3% higher over the 24 hours at time of writing.
ether (ETH), the largest altcoin by market cap, was trading above $2,750 on the back of 5.6% daily gainshaving looked to challenge $2,900 overnight.
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