Due to the recent news of Russia’s invasion of Ukraine, markets took a sharp hit.
Although markets were quick to recover after news that the U.S. was not getting involved, only applying sanctions. The markets started to rally after this news, Joe Biden stated that the U.S. will only limit Russia’s ability to “do business in dollars, euros, pounds, and yen to be part of the global economy.”
Wall Street saw a 7% intra-day gain on Thursday after Joe Biden’s address. Bitcoin followed suit recovering from a low of $34,000 on Thursday, to a high of $40,000 today according to data from CoinMarketCap. This figure was higher than the days leading up to the invasion.
The total crypto market reached a high of $1.8 trillion which was over a 3.5% increase from the day prior.
