Bitcoin (BTC) Price Smashed the Crucial $43K Levels, But What Changed All of a Sudden?

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Bitcoin price was presumed to revisit lower support around $30,000 for a pretty long time. But the crypto space turned the tables completely and appears to have ended the correction to some extent. A huge buying volume uplifted the price from the narrow trend, incurring a double-digit gain over the past few hours. At the press time, the BTC price is around $43,105 with a massive gain of 14.58%. Also, the market cap is around $817.7 billion. 

The ongoing Russia-Ukraine had negatively impacted the entire crypto space which slashed down the crypto prices to a large extent. Yet despite the war-like situation still prevails, the crypto markets are currently thriving with double-digit gains. What changed all of sudden? Let’s check it out!

Also Read: Bitcoin Initiated a Change in the Market Structure, Another 10% Jump Appears Imminent Now!

$101 million Liquidations

Liquidations are the major reasons for any huge price reversals within the crypto space. Nearly $101 shorts have been liquidated in the past 12 hours. This has ignited a massive flip that uplifted the BTC price from the $38,000 levels. 

Plunging Russian Ruble, Uplifts BTC

The conflicts between Russia and Ukraine have severely impacted the Russian currency Ruble. The Currency has lost its value in the international market which has compelled them to look out for other investment options. And hence as per some reports, the trading volume has surged to its peak using the Ruble since May.

Citizens Across the World Are Waking-up!

Considering the present situation where-in the governments are failing to protect the value of the fiat currency. Therefore, the citizens across the globe are waking up, analysing the fact that they cannot trust their government anymore to secure their hard-earn money.

No doubt the present uncertain conditions have negatively impacted the crypto space, but the adoption rates are expected to sky-rocket from now. During the Covid times, Bitcoin gained mainstream attention and during major conflicts, this attention may be more intensified which is a bullish case for the BTC price.