The world’s largest cryptocurrency Bitcoin (BTC) continues to show strength moving past $44,000. With this, BTC has extended its weekly gains to more than 8%.
The recent BTC price rally comes amid renewed optimism from investors. Besides, geopolitical events are also adding fuel to the rally. On Thursday, March 24, Russia announced that it will be accepting Bitcoin payments for oil and gas transactions.
Besides, on-chain data provider Santiment reported that the whale transactions have picked up since the declaration of the Russia Ukraine war. It notes:
The amount of Bitcoin addresses holding 1k to 10k $BTC has jumped by 8.3% since the #Russia–#Ukraine #war was made official. The 2,203 addresses is at a 1-yr high. Both this tier & the 100 to 1k $BTC tier have historically foreshadowed price moves.
Courtesy: Santiment
While the Bitcoin price is making new highs, let’s have some look at the technical charts. Popular crypto analyst Lark Davis said that Bitcoin is still trading u
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