March 27, 2023

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Bitcoin, Ethereum, Dogecoin Slip As Russia-Ukraine Conflict Gets Entrenched — Why Investors Need To Brace Themselves For A Rollercoaster Week

Bitcoin, Ethereum, Dogecoin Slips as Russia-Ukraine Conflict takes hold – why investors need to prop themselves up for a reckless week – Bitcoin – US Dollar ($BTC)

Bitcoin It traded in negative territory over the weekend. At press time, Sunday evening, the global cryptocurrency market cap was down 4% to $1.8 trillion.

Major currency price performance
Currency 24 hours 7 days price
Bitcoin (CRYPTO: BTC) -3% 1.7% $38415.35
Ethereum (CRYPTO: ETH) -4.7% -3.1% USD 2547.07
Dogecoin (CRYPTO: dog) -4.2% -2.5% $0.12
Top 24 Hour Gainers (data via CoinGecko)
Cryptocurrency Change by 24 hours (+/-) price
waves (waves) + 4% $18.12
Day (DAI) + 0.2% 1 dollar
Binance USD (BUSD) + 0.2% 1 dollar

See also: How to buy Bitcoin (BTC)

why does it matter: Major currencies remained lower as signs of abating hostilities between Russia and Ukraine eased on Friday.

Over the weekend, the Russian President Russian President Vladimir Putin He told his Turkish counterpart: ok Erdogan That ending Moscow’s operations in Ukraine “will only be possible if Kyiv stops military operations and implements known Russian demands,” according to Reuters. Transfer.

The Ukrainian Army’s General Staff said on Sunday that the Russians were gathering resources to storm Kyiv, the country’s capital, according to Reuters.

Cryptocurrencies are trading lower along with other risky assets while commodities such as oil and gold are up at the time of writing.

S&P 500 and Nasdaq futures are down 1.5% and 1.9% to 4,263.75 and 13,578.25, respectively, at press time.

Comex gold contracts on April 22 rose 1.4% to $1,994.60. Oil is up significantly – West Texas Intermediate crude futures on April 22 are up 7.6% to $124.43, while Brent crude futures on May 22 are up 8.5% to $128.11.

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Cryptocurrency Dealer Michael van de Poppe He warned of upcoming vicissitudes and urged his followers to “calm down”.

“This week is going to be turbulent,” he said. “Keep calm. The best option in these markets.”

The founders of on-chain analytics firm Glassnode, Jan Wean, He tweeted that Bitcoin is at a critical level and if its price fails to break above $40,000, it could reach the $34,000 to $36,000 support levels.

Meanwhile, a poll conducted by data and content platform Santiment showed that only 33.6% of 1,958 participants vote in favor of buying dips in cryptocurrencies.