Share this article
Bitcoin in Stasis Near $37K, Gold Extends Gains as Russia Starts Ukraine Invasion
In tense situations, investors prefer gold and oil than riskier assets like stocks and crypto.
Updated May 11, 2023, 4:38 p.m. Published Feb 22, 2022, 8:56 a.m.
Bitcoin was directionless during the early European trading hours on Tuesday while traditional markets saw another wave of risk aversion as Russian President Vladimir Putin ordered troops to move into eastern Ukraine.
- The top cryptocurrency traded largely unchanged on the day near $37,000 at 08:30 UTC, according to CoinDesk data.
- Gold jumped to fresh eight-month highs of $1,914 per ounce, before trimming gains.
- "In a tense situation, investors will prioritize commodities such as gold and crude oil rather than riskier stocks and cryptos," said Griffin Ardern, a volatility trader from crypto-asset management company Blofin.
- S&P 500 futures dropped over 1%, and the European stock markets nursed 1.2% to 1.5% losses. Oil prices surged with Brent crude oil futures breaching the $98 per barrel mark for the first time since late 2014.
- Putin's move drew criticism from the Group of Seven major industrial countries and United Nations, with several nations, including U.K and Japan, threatening to impose sanctions on Russia.
- In recent weeks, bitcoin has faced a double whammy of fears of a U.S. Federal Reserve rate hike and lingering Russia-Ukraine tensions.
- The cryptocurrency was down 3% for the month at press time, having failed to hold onto the rally to $45,000 seen earlier this month.
STORY CONTINUES BELOW
Ne manquez pas une autre histoire.Abonnez vous à la newsletter Crypto Daybook Americas aujourd. Voir toutes les newsletters
Plus pour vous
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Ce qu'il:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
Plus pour vous
This article is created to test tags being added to image overlays
Dek: This article is created to test tags being added to image overlays
Ce qu'il:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
Top Stories
