Bitcoin Climbs Past $44K Toward Crucial Test

The latest moves in crypto markets, in context

February 15, 2022

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Market Moves

Bitcoin (BTC) climbed 4% Tuesday, surpassing $44,000 and pushing toward a prize zone of $46,000-$48,000 that some analysts see as a crucial test.

Just last month, the largest cryptocurrency was changing hands below $33,000.

"This area is a logical place to expect profit-taking and risk reduction activity due to the confluence of resistance zones and the speed and magnitude of the move off recent lows," the crypto-market research firm Delphi Digital wrote in a report.

In an email, Du Jun, co-founder of Huobi Group, advised traders to "pay attention to the breakthrough of $45,000 above."

(Though a new Deutsche Bank report says fewer than half of crypto traders and investors surveyed would reduce investments or leave the market entirely even if prices fell 80%.)

Bitcoin's latest gains came as optimism grew in traditional markets that Russia would pull back from a possible military assault on Ukraine.

Meanwhile, Russia's central-bank chief and government appear at odds over the regulation of cryptocurrencies, in a sign that officials in the country remain divided ever after a document last week set out plans to legitimize the asset class.

In broader crypto markets, GALA, the eponymous token for Gala Games, surged 20% in the last 24 hours, outpacing other Metaverse majors as well as Meta’s stock.

Read More: GALA Jumps 20%, Leads Metaverse Index Gains

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Crypto Prices

Bitcoin (BTC)

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Ether (ETH)

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Latest Headlines

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ICYMI

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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.

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