Wall Street open sends Bitcoin to $40K as latest BTC price surge passes 6%

Bitcoin (BTC) got a boost from the start of trading on Wall Street on Feb. 28, as US stocks opened for a decisive week for markets amid geopolitical tensions.

BTC/USD 1-hour candlestick chart (bit stamp). Source: TradingView

Traders See BTC Exit Over $40,000

Data from Coin-Crypto Markets Pro and Trading Display showed that BTC/USD rose to $40,560 on Bitstamp after the opening bell Monday.

The move ended what had been a relatively quiet weekend, punctuated only by a comedown over the weekend.

With the monthly close approaching, eyes were on whether Bitcoin could definitively avoid closing a fourth month of declines in a row.

With the Wall Street hole totaling $1,900 in an hour, the mood among traders was favoring a $40,000 resistance attack to reaffirm its presence.

For popular trader and analyst Crypto Ed, $42,000 was an area of ​​interest.

US stocks, meanwhile, were unexpectedly calm in the open in the wake of a turnaround in relations with Russia, including the near-total ban on transactions with its central bank.

The S&P 500 was down about 1% at the time of writing, with the Federal Reserve possibly already taking action to take the blow of Russian sanctions.

“From here on the idea is that if BTC can break 39.5k, I think 41.5/42.0k is next, and I expect LUNA to continue to do better. Keeping my focus on it while it works,” popular Twitter account Pierre wrote in a cross crypto update.

Altcoins see calm start to weekly trading

As for Terra’s LUNA token, this was one of only two shiners among the major altcoins at the time of writing.

Related: War Puts BTC Price to the Test – 5 Things to Watch in Bitcoin This Week

LUNA/USD was up 3.9% to $78.27, still trailing leader Solana (SOL) who gained 4.4%.

By contrast, Ether (ETH), the largest altcoin by market capitalization, fell 1.6% on the day to $2,718.

ETH/USD 1-hour candlestick chart (bit stamp). Source: TradingView

For most, however, even the short term remained a mystery thanks to geopolitical events.

“I honestly don’t know what to expect from the markets this week. Slightly in favor of higher for risky assets, but it’s almost an even bet,” CoinTelegraph contributor Michael van de Poppe allowed

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