The last 30 minutes has seen Bitcoin explode higher by over 15% (the biggest move since 2017), breaking above $8,000 on heavy volume as the cryptocurrency tests above its 200-day moving-average. Speculative chatter seems to point toward Russian oligarchs buying although it’s definitely worth noting that Bitcoin actually fell with the announcement of the sanctions last week.

Additionally, and perhaps more likely to be the reason behind this shift is the reflexive easing from the tax-related selling pressure that many have discussed as a big driver of cryptos downside ahead of next week’s tax deadline.

And it’s not just Bitcoin the whole market is moving!

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!