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Bitcoin

• Bitcoin’s growth has been stifled for the second time this month by attempts to break through the $45,000 barrier.
• Bitcoin finished the day up 0.1 percent, hovering around $44,100. Ethereum increased by 1.4 percent, while the other top ten altcoins increased by a range of 0.3 percent (Binance Coin) to 5.5 percent (Avalanche).
• The total capitalization of the crypto market increased by 0.9 percent on the day to $2.09 trillion, according to CoinGecko. Because of the high demand for altcoins, the Bitcoin dominance index fell by 0.3 percent to 40.1 percent. The Fear and Greed Index rose one point to 52. (neutral).
• For the second time this month, Bitcoin’s growth has been halted by attempts to break through the $45,000 barrier. In the event of a pullback, traders should keep an eye on the dynamics near 42,000, where Bitcoin found support earlier this week. Consolidation between 42,000 and 45,000 can be viewed as a positive sign, as it will increase confidence that the recent downtrend will not resume after a pause.
• The US Securities and Exchange Commission (SEC) has launched an investigation into the Binance crypto exchange’s US representative office. The Canadian government intends to track cryptocurrency transactions and freeze bank accounts in order to cut off funding for the Freedom Convoy truckers’ protest movement.
• Twitter has added Ethereum addresses to its money transfer service within its app. The Bank of Russia intends to begin the second stage of cryptoruble testing in the autumn. The markets and bitcoin fell on Thursday morning as a result of news of shelling in Ukraine. Cryptocurrencies reacted impulsively as a risk asset, but last week’s example demonstrates that they can also act as safe havens, as some investors may attempt to save capital by using Bitcoin, Ethereum, and a number of other large altcoins.

Gold

• Gold reaches new eight-month highs as the Russia-Ukraine conflict remains tense.
• Gold briefly jumped to a new high since June last year of $1,890, and the price is still hovering around $1,886 as the yellow metal shoots up to its highest since June last year, following the accusation by Ukraine’s military.
• What happens next for gold is all about the headlines, but from a technical standpoint, the break above daily resistance at $1,877 opens the door to a retest of $1,900. The May to June highs from last year, which were around $1,912-16, will be nearby. That will also be an important spot to monitor if Russia-Ukraine tensions rise.
• For the time being, it’s all about where the headlines take us next. It is anyone’s guess in that regard, but the market mood is certainly apprehensive at the moment.

European equities

Eurostoxx +0.1 percent, Germany DAX +0.3 percent, France CAC 40 +0.5 percent, UK FTSE -0.1 percent & Spain IBEX -0.2 percent.

Russia is accusing. Ukraine denies this. Then there are reports that Russia is withdrawing some troops from Crimea. That is enough to turn the risk tide for the time being.

In currency terms, the Australian and New Zealand dollars have pared losses and are currently trading near the day’s highs against the US dollar. NZD/USD is up 0.4 percent and approaching 0.6700, while AUD/USD has recovered from a low of 0.7150 to 0.7210.