Bitcoin (BTC) has gained momentum since trading began on Wall Street on February 28, when US stocks opened into a crucial week for markets amid geopolitical tensions.
BTC/USD hourly candlestick chart (bit stamp). Source: Trading View
Traders expect BTC to exceed $40,000
Data from Cointelegraph Markets Pro and TradingView showed that BTC/USD jumped to $40,560 on Bitstamp after opening trading on February 28.
The move ended what had been a relatively quiet weekend, marked only by a drop in the weekend.
As the month-long industry approaches, attention has been drawn to whether Bitcoin can certainly avoid falling for the fourth consecutive month.
Wall Street’s gap rose to $1,900 in one hour, and sentiment among traders favored a $40,000 resistance attack to confirm its presence higher.
Popular Crypto trader and analyst Ed was interested in $42,000.
At the same time, US stocks were unexpectedly calm at the opening after a radical change in relations with Russia, including an almost complete ban on transactions with the central bank.
At the time of writing, the S&P 500 is almost down. 1% because the Federal Reserve may have already acted to limit the blow from Russian sanctions.
Pierre wrote on his popular Twitter account: “The idea here is that if Bitcoin can cross 39.5K, I think 41.5/42.0K will be next, and I expect LUNA to continue to surpass that. Focus on it while it works.” In update via encryption.
Altcoin trading starts quietly
As for the Terra LUNA token, at the time of writing, it is one of two notable coins among all-around coins.
Related: War Puts BTC Price to the Test – 5 Things to See in Bitcoin This Week
LUNA/USD increased 3.9% to $78.27, still behind leader Solana (SOL), which rose 4.4%.
In contrast, Ether (ETH), the largest altcoin by market cap, fell 1.6% on the day to $2,718.
ETH/USD hourly candlestick chart (bit stamp). Source: Trading View
But for the majority, even short-term periods remained a mystery due to geopolitical events.
Mikael van de Poppe, a Cointelegraph contributor, admitted: “Frankly, I don’t know what to expect from the markets this week. In favor of slightly riskier assets, but this is an almost identical effort.”