Bitcoin inches past $38K as Wall Street opens to strange calm on Russia sanctions
Bitcoin (BTC) recovered to $38,000 as Wall Street opened on Feb. 22 amid a tense atmosphere over geopolitical instability.
Data from Cointelegraph Markets Pro and TradingView showed an eerily calm start to the first Wall Street session of the week for both stocks and crypto.
Fears of a dramatic bout of volatility accompanying the open thanks to Feb. 21's announcement by Russian President Vladimir Putin that he would recognize two breakaway republics in eastern Ukraine had been high.
Sanctions, still being announced at the time of writing, were likewise assumed to be about to fuel the fire but on the day, there was little movement.
The S&P 500 was all but flat thirty minutes after trading began, leaving Russian markets as the main losers and gold as the standout winner.
"I think that we're going to open in the red and then, immediately bounce up on the risk-on assets and have a slight correction on gold," Cointelegraph contributor Michaël van de Poppe previously forecast.
Fellow trader and analyst Scott Melker meanwhile focused attention on the potential for the Russia-Ukraine debacle to influence policy at the United States Federal Reserve.
According to banking giant JPMorgan, the effect of a potential conflict could be to make the Fed abandon the veracity of its planned interest rate hikes this year.
Lol So war potentially means more stimulus and printing = good for assets. Got it. https://t.co/giYBSc9U6v
According to a note published Feb. 22 quoted by various media outlets, analysts at JPMorgan believe that the trigger for a Fed rethink would come in the form of commodity price increases.
“Russia-Ukraine tension is a low earnings risk for U.S. corporates, but an energy price shock amid an aggressive central bank pivot focused
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