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.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.