Bitcoin has managed to avoid beating last month's $32,800 low despite this week's market turmoil.
revealed calmer conditions for BTC/USD Saturday after overnight volatility saw highs of $40,330 on Bitstamp.
With traditional markets closed, the probability of"fakeout" moves up or down was elevated thanks to thinner weekend volumes on crypto markets. The geopolitical turmoil focused on Ukraine and occupier Russia formed the backdrop for continued cautious sentiment, amid concerns that Monday, in particular, could bring fresh instability.Crypto Fear & Greed Index . Source: Alternative.me
A potential silver lining for Bitcoin bulls meanwhile came from the weekly chart. With its recent $34,300 low on the Ukraine invasion, BTC nonetheless managed to put in a higher low versus January's $32,800 dip. Should that hold, trader and analyst Rekt Capital believed, February's comedown from $45,500 would most likely turn out to have been a"necessary" consolidation move.
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