Bitcoin Jumps to $40K as Putin Sees Positive Shift in Ukraine Talks
European equity benchmarks and U.S. index futures extended gains while major cryptocurrencies jumped as much as 7.6%.
Mar 11, 2022 at 1:08 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/GW2QNJGK5ZDCBFYU75WCVOM6RY.jpg)
Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Bitcoin regained the $40,000 level in the past hour after reports of positive developments in talks between Russia and Ukraine.
- Russian President Vladimir Putin said there was “positive movement” in negotiations, which were happening on a “daily basis.” Russia faces sanctions from Western countries among others as leaders worldwide condemn the invasion of Ukraine.
- Putin’s comments buoyed global markets. S&P 500 futures added 1.31%, and futures on the tech-heavy Nasdaq 100 rose 1.65%. Sentiment in Europe was stronger, with Germany’s DAX jumping 3.41% and Stoxx Europe 600 gaining 2.09%.
- Crypto markets were mixed. Bitcoin jumped from $38,600 in European morning hours to slightly over $40,200 as Putin’s comments went public. Ether added 2.4% in the past hour alongside XRP and Solana’s SOL, while Polkadot’s DOT led gains with an 8% rally in the past 24 hours.
Bitcoin jumped to as much as $40,200 before a sell-off. (TradingView)
- Ukraine’s worsening situation has rippled across global markets. India saw an exodus of foreign capital to the tune of billions of dollars this week while Brent crude touched $140 a barrel. Demand for nickel – alongside a short squeeze – pushed prices of the metal to a record $101,000, while gold touched $2,070 on Tuesday, a level previously seen in August 2020.
UPDATE (March 11, 14:01 UTC): Changes photo.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/6c6bb5af-692c-4fcf-9f8b-a75d0549effd.png)
Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Shaurya is the Co-Leader of the CoinDesk tokens and data team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FE2Y3D7XTJAN5AUMPNM4KPZFMI.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/FMUS4SO7TRAC3LGEECXC2AYETQ.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/EA2UGDOYNVCYHKFROKYZFROLPM.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DF5Z474FHJBHVIHDBRTDTWLHY4.jpg)