Bitcoin has experienced some recovery amid economic sanctions signals.
Bitcoin had declined significantly for a week due to the Russia-Ukraine tension. Bitcoin fell to $ 36,300 last night, on the escalation of tensions and the invasion news. Bitcoin and U.S. stock markets then took a hit as the White House, the European Union and the United Kingdom signaled economic sanctions against Russia in response to Putin’s decision to send troops to eastern Ukraine, and Putin officially recognized two rebel-held areas in the country. recovered.
Some market commentators explain the recovery in markets as the West’s decision to avoid military intervention and inflict economic damage through sanctions has allayed fears of a full-scale war. “This is a strategic defeat for Putin, and the probability of a full-scale war from now on is even lower than before,” said macro fund manager Igor Schatz.
Bitcoin continues to protect $37,000 at the time of publication and is traded at $37,700.
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