Bitcoin Recovers Slightly After Weekend Fall to $38,000
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Bitcoin Recovers Slightly After Weekend Fall to $38,000

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Global markets have faced increasing uncertainty in recent weeks amid growing tensions between Russia and the West.

Bitcoin Recovers Slightly After Weekend Fall to $38,000

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Bitcoin has recovered slightly after a bruising weekend that saw the world's biggest cryptocurrency plunge to lows of $38,112.
As the new working week began — with a national holiday in the U.S. — BTC had risen by 0.92% o​​ver the past 24 hours, hitting $39,184 as a result.

Global markets have faced increasing uncertainty in recent weeks amid growing tensions between Russia and the West — with the U.S. claiming it has intelligence that Moscow is planning an imminent invasion of Ukraine.

Investor sentiment may have received a slight boost on Monday after U.S. President Joe Biden and his Russian counterpart agreed in principle to a summit on the crisis, brokered by France.

However, Washington has warned that its intelligence remains unchanged — and defense officials still believe that Russian commanders have been given orders to make final preparations ahead of an attack.

Moscow had pledged to pull back 30,000 troops on Ukraine's border with Belarus after military drills were completed on Sunday, but has now rowed back on this pledge.

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'Rough Week Ahead'

Bloomberg Intelligence analyst Mike McGlone warned on Twitter that all signs point to a "rough week ahead" for Bitcoin, and wrote:

"Most assets are subject to the ebbing tide in 2022, on the inevitable reversion of the greatest inflation measures in four decades, but this year may mark another milestone for Bitcoin."

The Bitcoin Fear and Greed Index is now flashing a score of 25 — indicating Extreme Fear — its lowest since Feb. 4.
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