Share this article
Bitcoin Breaks Above $40K
After a weekend of choppy trade, the popular crypto began a sizable move higher as the U.S. returned to work on Monday morning.
Updated May 11, 2023, 3:39 p.m. Published Feb 28, 2022, 3:17 p.m.
Bitcoin, the world’s largest cryptocurrency by market capitalization, regained the key psychological threshold of $40,000 even as the situation with respect to Ukraine continued to deteriorate.
"The move to isolate and cripple Russia's economy seems to be reacted positively by the market at the moment," said Lennard Neo, analyst at Stack Funds.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Bitcoin fell to as low as $37,000 over the weekend as Russian President Putin put his country's nuclear forces on alert, and the West amped up what it hopes will be crippling financial sanctions. The crypto, however, began moving higher earlier this morning, including a jump from $38,000 to $39,500 over the course of a few minutes just before U.S. stocks opened their session.
At press time, BTC was trading at around $41,105.
Laurent Kssis, a crypto exchange-traded fund (ETF) expert and director of CEC Capital, said technical and proprietary signals are strong to hold the $41,000 position for the cryptocurrency. Kssis added that "overnight we should see some appreciation even narrowly." He also noted that the average transaction value in dollars for bitcoin has rallied 10% in the last 2 hours, which "means investors are taking on larger bets in bitcoin which has helped confidence building."
Possibly helping sentiment this morning is unconfirmed chatter that Russia is exploring a digital "one world, one currency" for trade.
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
Grayscale outlines top crypto investing themes for 2026 as institutional adoption grows
Grayscale says macro demand for alternative stores of value and regulatory clarity are underpinning a sustained crypto bull market heading into 2026.
What to know:
- Grayscale says the crypto asset class remains in a sustained bull market heading into 2026, supported by macro demand and regulatory clarity.
- The firm outlines 10 investing themes spanning stablecoins, tokenization, DeFi lending, staking and next-generation blockchain infrastructure.
- Grayscale does not expect quantum computing or digital asset treasuries to have a material influence on crypto markets next year.
Top Stories
