‘No more 4-year cycles’ — 5 things to know in Bitcoin this week

‘No more 4-year cycles’ — 5 things to know in Bitcoin this week

by Ras Vasilisin
21. March 2022
‘No more 4-year cycles’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week on a tentatively stronger footing as macro cues curiously stabilize.

After a calmer weekend than most recently, BTC/USD managed to seal its highest weekly close since February, casting off concerns that an imminent bout below $40,000 could enter.

Instead, conditions are beginning to favor a more bullish perspective on shorter timeframes. But, as ever, nothing is certain. The bulls need to tackle resistance and flip it to support, beginning with levels just north of $42,000 — a case of “so near yet so far” for the market this month.

Signs that belief is heating up again, nonetheless, come from increasing activity in stablecoin markets. As such, truly bearish takes on what lies ahead are now few and far between.

As global markets stage a miraculous recovery after weeks of war-based nerves, Cointelegraph takes a look at what could impact Bitcoin in the coming week.

Stocks act like they no longer care about war

It may seem “crazy,” markets commentator Holger Zschaepitz said this weekend, but it appears that in just one month, markets are beginning to forget the ongoing Russia-Ukraine war.

What was the main trigger for volatility in previous weeks is becoming an increasingly impotent market mover after the shock of sanctions came and went, he says.

While its implications are far from fully apparent, the current geopolitical reality is nonetheless increasingly unnoticeable on equities markets, which are now trending up with a focus on policy changes in China.

Chinese equities took a pummeling this year, led by tech stocks on the back of government pressure, but a seeming about-turn to shore up stability in Beijing is already having its desired effect.

Where Asia leads, Europe and the United States follow this week — markets are heading higher. And, in the case of Europe’s Stoxx 600, have already eradicated losses engendered by the war.

“Global stocks have gained ~$5tn in mkt cap this wk on potential for wave of stimulus in China & oversold stock prices,” Zschaepitz noted Monday.

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