Share this article
Bitcoin Retakes $44K Amid Broad Crypto Rally
Ether climbed above $3,100 for the first time in more than a month.
Updated May 11, 2023, 5:04 p.m. Published Mar 24, 2022, 7:28 p.m.
Bitcoin is up more than 3% over the last 24 hours, climbing to a three-week high of $44,200 earlier on Wednesday before modestly pulling back to $44,000.
- Helping the mood for the bulls was that Pavel Zavalny, chairman of Russia’s congressional energy committee, earlier Thursday suggested bitcoin could work as the country considers hard currency alternatives for oil sales given the sanctions imposed on Russian companies by the West.
- An analyst from Split Capital took note of not just the price spike following those comments, but a big jump in bitcoin open interest.
- U.K.-based digital asset broker GlobalBlock said bitcoin’s price strength was notable given a 25% increase in oil prices over the past week. Analysts at the firm believe the oil run needs to cool for bitcoin to continue with gains.
- GlobalBlock also said that the accumulation of bitcoin by large investors bodes well for the cryptocurrency. That includes Luna Foundation Guard’s plan to purchase $3 billion of bitcoin in the short term and $10 billion long term.
- That’s a lot of buy pressure, GlobalBlock said, explaining that it expects seller exhaustion and a run above $45,000 as long as oil prices don’t reach new highs.
- Elsewhere in the crypto market, ether is up 4% to $3,111, its highest level since Feb. 16, while and solana are both up by about 10%.
- Also read: Cardano’s ADA Up Nearly 10% as Coinbase Adds Staking Feature
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
XRP Lands on Solana, Ethereum and Others, in Boost for Ripple Ecosystem
Wrapped XRP will be tradable on Solana, Ethereum and other chains, allowing exposure across DeFi applications without unregulated third-party bridges.
What to know:
- Hex Trust is launching wrapped XRP (wXRP) to enhance XRP's DeFi and cross-chain utility, with over $100 million in total value locked.
- The wXRP will be tradable on Ethereum and other chains, allowing exposure across DeFi applications without unregulated third-party bridges.
- Despite the launch, XRP's price remains range-bound, with significant supply resistance above $2.05 and demand support near $2.00.
Top Stories
