So close yet so far. Hopes of Bitcoin reaching $40,000 are starting to diminish going into the weekly close.
, bulls were spared a lower low last week, despite the downside move on the Ukraine invasion, bottoming out at $34,300 versus $32,800 in January.
"Cautiously optimistic this is a short to mid-term bottom for BTC," popular trader and analyst Pentoshi"I pulled my 40.3k orders and will focus higher to 41.6k for de-risking. Must flip that and there's some pretty decent upside. I am still cautious bc the macro landscape imo is anything but bullish."
That macro landscape was poised to deliver a fresh bout of uncertainty on Monday's open thanks to moves by the West toA mention of Russia's nuclear deterrent by president Vladimir Putin likewise ruffled feathers over the weekend, with Ukraine and Russia beginning negotiations on the Belarusian border Sunday.
For Bitcoin proponents, meanwhile, the potential knock-on impact of Russian financial sanctions and the cryptocurrency's status as a neutral network for value transfer began to take center stage.
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