After dropping last week, BTC found firm footing above 42K during U.S. trading hours as investors held their breath about a potential Russian invasion of Ukraine, particularly the implications on the global energy supply. JPRubin23 reports
After dropping sharply Friday, bitcoin found firm footing in the $42,000 to $43,000 range during U.S. trading hours as investors continued to hold their breath about a potential Russian invasion of Ukraine, particularly the implications for the global energy supply.
Crypto's performance largely mirrored prices on major equity exchanges. The tech-focused Nasdaq composite was flat, the first trading day after it dropped more than 2% on Friday. The S&P 500 and DJIA were off slightly.l prices have risen to $90 a barrel, their highest level since 2014, and a war that could mean sanctions on Russian production could send the price to over $100, a number of analysts have predicted. Natural gas prices jumped 6% on. Monday.
If tensions on the Ukrainian border decrease in the days ahead, Moya said investors will"focus on U.S. economic data." He said that Tuesday's Producer Price Index report, the average change in the selling prices received by domestic producers for their goods and services, will"be closely watched" as a window on inflationary trends.Bitcoin was roughly flat over the weekend as price momentum continued to slow.
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