It has been a choppy trading week for cryptocurrencies, which kept some buyers on the sidelines. Stocks were also under pressure as tensions between Russia and Ukraine escalated.
On Friday, a fire broke out at Ukraine’s Zaporizhzhia nuclear power plant, and conditions around the facility remain unstable. The incident kept global investors on edge, contributing to further gains in oil prices and traditional safe haven assets such as gold and the U.S. dollar.
Bitcoin (BTC) briefly dipped below $40,000 on Friday, and is up 2% over the past week, compared with a 4% decline in ether (ETH) over the same period. Bitcoin’s outperformance relative to altcoins suggests a lower appetite for risk among crypto investors.
Technical indicators are mostly neutral for bitcoin, although a significant loss of upside momentum on long-term charts points to continued selling pressure. Still, the…
