The pair is trading at 42,352, which is about 7.53% below last week’s high. Other cryptocurrency prices also held steady, with the total market cap of allBitcoin joined other assets like stocks in falling sharply on Friday as investors continued worrying about the ongoing tensions on Ukraine. In a statement, the US government announced that Russia had managed to mobilize the necessary troops needed to invade Ukraine.
The country has placed thousands of troops near its Ukrainian border. It has also allocated other troops in Belarus and the Baltic sea. The main concerns are that Russia fears that Ukraine will become a member of NATO, which it sees as a major threat.and stocks have made some improvements. On Friday, the BTC sell-off coincided with the sell-off of the Nasdaq 100 index. On Monday, the BTC and the tech-heavy index have made some gains.
The BTC/USD pair is also stabilizing as investors continue watching the ongoing inflation worries. Last week, data by the American statistics agency showed that the headline consumer inflation to 7% in January. That was the highest level that inflation has been in more than 40 years. Therefore, considering that the unemployment rate has moved to the lowest level since the pandemic started and inflation has risen, there is a likelihood that the Fed will become more hawkish this year. Historically, risky assets tend to lag in a period of Fed tightening.prices rise. For example, the price of crude oil has risen while other industrial metals have also moved higher.The BTC/USD pair was moving sideways on Monday morning.
Source: Digital Coin News (digitalcoinnews.net)
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