Still, investors continued to look warily at Russia's next military moves along the Ukraine border and at the latest inflationary news. JPRubin23 reports
Bitcoin dipped during the first half of Tuesday but regained most of its lost ground later in the day to reestablish its foothold above $44,000, about where it stood a day ago. A number of major altcoins rose over the same period, although ether dropped slightly."Bitcoin continues to look very healthy after weathering the geopolitical storm well before benefiting from the improvement in risk appetite on Tuesday," wrote Craig Erlam, senior market analyst, U.K. & EMEA for Oanda.
Still, investors continued to look warily at Russia's next military moves along the Ukraine border and at the latest inflationary news. The U.S. Federal Reserve is continuing to track rising inflation, according to minutes from its January meeting, and is widely expected to raise interest rates several times this year. The trickle-down from rising prices is likely to affect consumer spending in the months ahead.
"Risk appetite remains important, especially that linked to inflation and interest rates, which could continue to be a drag if anxiety remains in the broader markets," Erlam wrote.Bitcoin four-hour chart shows support/resistance levels
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