{"id":19478,"date":"2022-02-28T16:56:46","date_gmt":"2022-02-28T15:56:46","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=19478"},"modified":"2022-02-28T17:14:20","modified_gmt":"2022-02-28T16:14:20","slug":"wall-street-drives-bitcoin-toward-40k-as-btc-price","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/wall-street-drives-bitcoin-toward-40k-as-btc-price\/","title":{"rendered":"The opening of Wall Street drives Bitcoin towards $40K as the latest BTC price spike approaches 6%"},"content":{"rendered":"\n
As Monday trading<\/a> begins, signs that BTC price movement may provide investors with a much-needed silver lining intensify. <\/h5>\n\n\n\n
\"The<\/figure>\n\n\n\n

As U.S. stocks began to a defining week for markets amid geopolitical tensions, Bitcoin (BTC) received a lift from the opening of Wall Street trading on February 28. <\/p>\n\n\n\n

Traders are looking for a BTC price above $40,000.<\/p>\n\n\n\n

BTC\/USD jumped to $39,910 on Bitstamp following the opening bell Monday, according to data from TradingView\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

The move brought an end to a reasonably quiet weekend marked only by a drop into the weekly close.<\/p>\n\n\n\n

With the end of the month nearing, all eyes were on Bitcoin to see if it could avoid a fourth month of losses.<\/p>\n\n\n\n

\n

Now can we go? #Bitcoin<\/use><\/svg><\/span><\/a>

Gaining the upper range ($40.8k-$44.4k) and holding trading elevates the safety of the bullish structure formed.

$37k absorbed all liquidity? \ud83c\udf0a
If so, price will respond by breaking $44.4k \ud83d\udc80 pic.twitter.com\/oyA805nX7l<\/use><\/svg><\/span><\/a><\/p>— G a a h (@gaah_im) February 28, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

The sentiment among traders backed an attack on $40,000 barrier to reassert presence higher, with the Wall Street<\/a> gap up totalling $1,900 in an hour.<\/p>\n\n\n\n

Crypto Ed, a well-known trader and analyst, was interested in $42,000. <\/p>\n\n\n\n

\n

Seeing some sceptical comments, this is why I think we bounce:
My bigger picture was a move to 42k (still confident about that)
But I said: a correction over the weekend, which has taken place in an ABC where C leg has 5 legs.
Should bounce any moment now pic.twitter.com\/RenIDFCqw9<\/use><\/svg><\/span><\/a><\/p>— Ed_NL (@Crypto_Ed_NL) February 27, 2022<\/use><\/svg><\/span><\/a><\/blockquote>

Meanwhile, on the open, U.S. markets<\/a> were unusually calm in the aftermath of a major shift in relations with Russia, which included a near-total ban on transacting with its central bank.<\/p>\n\n\n\n

At the time of writing, the S&P 500 was down about 1%, with the Federal Reserve likely already taking steps to mitigate the impact of Russian penalties<\/use><\/svg><\/span><\/a>.”<\/p>\n\n\n\n

From here, if BTC<\/a> price can break 39.5k, I believe 41.5\/42.0k will follow, and I expect LUNA to continue to outperform. <\/p>\n\n\n\n

I'll keep focusing on it as long as it works “Pierre, a popular Twitter account, posted a cross-crypto update<\/use><\/svg><\/span><\/a>. <\/p>\n\n\n\n

Trading in altcoins is rather quiet at the start of the week<\/h2>\n\n\n\n

When it came to Terra's LUNA token<\/a>, it was one of just two significant cryptocurrencies that stood out at the time of writing.<\/p>\n\n\n\n

LUNA\/USD was up 3.9 percent at $78.27, although it was still trailing leader Solana (SOL) by 4.4 percent.<\/p>\n\n\n\n

The largest altcoin by market size, Ethereum (ETH)<\/a>, was down 1.6 percent on the day at $2,718.<\/p>\n\n\n\n

\"The
ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/figcaption><\/figure>\n\n\n\n

However, due to geopolitical developments, even short-term timelines remained a mystery for most.<\/p>\n\n\n\n

“I honestly have no idea what to expect from the markets this week. For risk-on assets, the odds are somewhat in favor of higher, but it's virtually an even bet ” Lola, a contributor to Coinscreed, said.<\/p>\n","protected":false},"excerpt":{"rendered":"

As Monday trading begins, signs that BTC price movement may provide investors with a much-needed silver lining intensify. As U.S. stocks began to a defining week for markets amid geopolitical tensions, Bitcoin (BTC) received a lift from the opening of Wall Street trading on February 28. Traders are looking for a BTC price above $40,000. […]<\/p>\n","protected":false},"author":34,"featured_media":19484,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[7713,152,484],"class_list":["post-19478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-bitcoin","tag-bitcoin-price"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/02\/images-2022-02-28T165115.929.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/19478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=19478"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/19478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/19484"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=19478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=19478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=19478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}