Bitcoin moves in lockstep with equities as gold rallies on Russia-Ukraine tensions. godbole17 reports.
The wait for the crypto community's supposedly seminal moment when bitcoin flips into a risk-off asset continues as the leading digital asset faces selling pressure amid escalating tensions between Russia and Ukraine.
"Wall Street has gone full de-risking mode and bitcoin is paying the price. Fears over geopolitical concerns and potentially aggressive central bank tightening has cryptos across the board in freefall," Edward Moya, senior market analyst at Oanda, said. "Bitcoin/crypto is acting more like high growth tech assets. Just like Nasdaq is filled with Web 2, it's almost as if the Web 3 narrative has pegged crypto to act similar to the Nasdaq in less certain environments," Ben Lilly, a crypto economist at Jarvis Labs, told CoinDesk in a Telegram chat.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia-Ukraine live updates: Russia adds as many as 7,000 troops, US official saysThe Ukrainian government has denied any intention to launch an offensive on the separatist-held areas.
Read more »
Ukraine-Russia Crisis: What to Know on Hopes of Averting WarThe Kremlin had signaled Monday that it was still possible for diplomacy to head off what Western officials have said could be an imminent invasion of Ukraine. But much remains unclear about Russia’s plans and how the crisis will play out.
Read more »
6 ways the Russia-Ukraine conflict could hurt your walletThe Russia-Ukraine crisis is taking place thousands of miles away from the closest major US city. And yet millions of American families would feel the economic consequences of a full-blown conflict.
Read more »
Putin might have blinked, but Russia can still attack Ukraine without warningRussian President Vladimir Putin, having raised the specter of a major military assault in an apparent bid to secure diplomatic concessions from Ukraine and NATO, might just have blinked.
Read more »
NATO: No sign Russia is pulling back troops near Ukraine despite claimsNATO said it has seen no sign of a Russian troop drawdown at Ukraine’s border despite claims from Moscow that it was returning more troops and weapons to bases.
Read more »