Bitcoin Looks To Russia-Ukraine And $5Bn Bitfinex Hack Suspect Released

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Bitcoin was rangebound as we entered Tuesday with the world’s biggest crypto coin stuck between $40k and $45k for a week now. Analysts claim that the fact that Bitcoin has been able to hold it’s footing while global stocks fell is a good sign, but the resistance level (seen around $46k) will remain until the Ukraine-Russia tensions ease again, just like stock markets remain in a waiting position.

If #Bitcoin is expected to collapse as a result of the Russia-Ukraine conflict. Why would Russia legalise Bitcoin and show interest in it so close to a war?

— Dr. DeFi (@PhDeFi) February 14, 2022

Stateless currency

Support for Bitcoin has crept up to the level of $37k, according to analysis of Katie Stockton, founder of Fairlead Strategies.

Bitcoin is labeled by some as a stateless currency, and it has indeed performed well in the past when there were geopolitical tensions, so we could expect some demand as a safe haven asset.

Commented Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank to CNBC overnight.

#BTC #bitcoin #binance The instability and chaos of the mainstream market all stem from the war between Russia and Ukraine. Will encrypted BTC be stable? will still crash pic.twitter.com/KSBmwz25w6

— Doris (@kailinna258) February 14, 2022

He added:

The change in the landscape made bitcoin fragile to the U.S. stock market volatility, so bitcoin investors may not be able to feel at ease until the situation at the Russia-Ukraine border starts to settle down.

Razzlekhan released

31-year-old Heather Morgan, aka aspiring rapper Razzlekhan, who stands accused together with her 34-year old husband Ilya Lichtenstein of the $5 Billion Bitfinex hack back in 2016, was released from prison under strict bail conditions yesterday evening. Her husband remains in custody though.

Judge orders the release of alleged Bitcoin launderer Razzlekhan on bail https://t.co/wy5QdkUP2l pic.twitter.com/Ll1x7Gv5HZ

— The Verge (@verge) February 15, 2022

Worldwide media discovered the aspiring rapper last week and her videos have been going viral since. This was probably not how she had hoped to become famous though.

AhmedZaggoudi / Depositphotos.com