Bitcoin bounces to $40,000 but shorts on cryptocurrency exchange Bitfinex are worrying traders
showed BTC/USD briefly surging $1,400 before reversing to consolidate below $40,000 Friday.
The move followed fresh comments from Russian President Vladimir Putin, who in a meeting with Belarusian counterpart Aleksandr Lukashenko said that there had been"positive shifts" in the Ukraine dynamic.by Reuters and others. Bitcoin, already known for not"liking" escalations in armed conflicts, immediately rebounded in line with European and U.S. stock markets. Germany's DAX bounced 2.6% on the news, while S&P 500 futures were up 1.1% before the Wall Street open.
At the time of writing, volatility remained on BTC/USD, with bulls attempting to crack $40,000 resistance more convincingly. Previously, however, warnings had come from those watching rapidly mounting shorts on major exchange Bitfinex — a classic sign that short-timeframe downside should be imminent.
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