The breathless rise in Bitcoin allowed the leading cryptocurrency to see the level of $ 44,000 towards the close of the day. After this sharp rise, BTC/USD, which found ground at $ 43,000, moves horizontally in the band of $ 43,000 - $ 43,500 in the first hours of the day.
While the crypto money market cap increased to $ 1.9 trillion, Bitcoin (BTC) closed the month at $ 43,188 with an upward move on the last day of February. Bitcoin, which ended the negative monthly closing series in the last 3 months, thus increased its value by 12 percent in February.
This sharp upward movement in Bitcoin comes during the war between Russia and Ukraine. During this period, while the economic sanctions against Russia began to harm the Russian economy, record decreases were recorded in the ruble yesterday. All day long, while there were rumors that the country could turn to cryptocurrencies to avoid sanctions, the highest transaction volumes of the last 9 months were seen in BTC / RUB parity.
On the other hand, the request from the Ukrainian government to freeze the accounts of Russian investors on crypto exchanges was another topic on the agenda. With the addition of Ukraine's crypto fundraising initiative to these issues, it has been seen that cryptocurrencies are included in the intense agenda in the current environment.
LATEST STATUS ON ALTCOIN PRICES
Ethereum price gained momentum for a move above the $2,750 resistance and extended gains 11% to surpass the $2,900 level. If there is a clear move above $3,000, the price could rise to $3,120. On the downside, an initial support is near the $2,850 level. The next key support is around the $2,800 zone, below which the price could test $2,750.
Cardano (ADA) started a strong increase above the $0.92 resistance level. The price also broke $0.95 and it might surpass the $1.00 level in the coming sessions.
BNB is up more than 8% and it made a clear move above the $380 resistance. The price has also surpassed $388 and may soon exceed $400. The next major resistance could be near the $420 level.
Solana (SOL) is up 12% and it made a clear move above the $95 level. If there is a close above the $100 level, the bulls may aim for a larger increase. The next key resistance is near the $105 level.
DOGE surpassed the $0.135 resistance before correcting once again. If the price bounces back above this level, the next hurdle is near the $0.142 level. If the bulls remain active, they could aim for an increase towards the $0.150 level.
XRP price surpassed the $0.75 resistance area. It is currently consolidating near $0.775. To start a stronger increase, the price must surpass the $0.80 resistance area.
Many altcoins are up more than 10%, including LUNA, AVAX, DOT, DOGE, SHIB, MATIC, WBTC, CRO, ATOM, LTC, LINK, BCH, FTT, NEAR and WAVES. Apart from these, LUNA is up 23%, breaking the $88 level, bringing its weekly gains to 75%. Meanwhile, WAVES has more than doubled in a week after gaining 48% in one day, breaking the $17 mark.