Bitcoin slowed ahead of strong resistance at $45,000 in mid-February before falling. The first cryptocurrencies in recent days haven't paid much attention to Wednesday's gains in stock indexes. The technical chart continues to point to a breakout of the downtrend, although to confirm a reversal, the price must first fix above 45K.
It must be said that Bitcoin trading volume increased significantly last week due to events in Ukraine. On February 28, BTC surged 11%, the highest gain in many months, after the assets of Russian banks were frozen. Russians withdrew their devalued ruble assets and invested them in cryptocurrencies due to new sanctions.
In the European Union, it has been discussed before that it is time for Bitcoin and Ethereum to ban these cryptocurrencies due to their high power consumption and negative impact on the environment due to their use of proof-of-work consensus mechanisms. However, as seen in the new version of the Digital Assets Act, the decision was made to abandon this idea.
Technically, Bitcoin slowed on Wednesday after two days of positive strength, falling back to 43.1K on Thursday morning, down 2.2% on a daily basis. Ethereum is down 3.3% 0.6% over the past 24 hours. The top ten leading altcoins are losing 1% (Terra, XRP) to over 5% (Avalanche) per day.
According to CoinMarketCap, the total market capitalization of the crypto market fell by 2.5% on a daily basis to $1.09 trillion. The Bitcoin Dominance Index hovered around 43.1%. The Crypto Fear and Greed Index fell 13 points to 29, entering fear territory again.
It must be said that Bitcoin trading volume increased significantly last week due to events in Ukraine. On February 28, BTC surged 11%, the highest gain in many months, after the assets of Russian banks were frozen. Russians withdrew their devalued ruble assets and invested them in cryptocurrencies due to new sanctions.
In the European Union, it has been discussed before that it is time for Bitcoin and Ethereum to ban these cryptocurrencies due to their high power consumption and negative impact on the environment due to their use of proof-of-work consensus mechanisms. However, as seen in the new version of the Digital Assets Act, the decision was made to abandon this idea.
Technically, Bitcoin slowed on Wednesday after two days of positive strength, falling back to 43.1K on Thursday morning, down 2.2% on a daily basis. Ethereum is down 3.3% 0.6% over the past 24 hours. The top ten leading altcoins are losing 1% (Terra, XRP) to over 5% (Avalanche) per day.
According to CoinMarketCap, the total market capitalization of the crypto market fell by 2.5% on a daily basis to $1.09 trillion. The Bitcoin Dominance Index hovered around 43.1%. The Crypto Fear and Greed Index fell 13 points to 29, entering fear territory again.