Bitcoin Tests $40K on Reports of Putin Claiming Progress Made in Talks With Ukraine

Bitcoin’s price surged by over $1,000 and is currently challenging the important psychological level of $40K. It happens on reports that Putin has claimed progress made in talks with Ukraine.

• Bitcoin’s price is currently testing the major psychological level of $40,000, after surging over 2.2% in the past hour.
• The increased volatility also had an impact on liquidations as over $24 million in leveraged positions were wiped off the market in the past hour alone.
• The largest single liquidation order took place on Bybit, and it’s worth almost $6 million – a BTC perp.

Source: TradingView

• The move comes on the back of reports that Russian President Vladimir Putin said progress has been made in the talks between the Kremlin and Ukraine.
• Citing Russia’s Interfax news agency, CNBC quoted Putin saying:

There are certain positive develompents as the negotiators from our side reported to me.

• However, it’s also worth noting that Russian troops have been supposedly regrouping near Kyiv, and some predict a potential push to bear down on the capital.
• Commenting on the conflicting signals, Adam Cochran – well-known crypto commentator and analyst – said:

Markets are so thin and so desperate for relief that we’re moving on vague positive news in the Russia-Ukraine conflict while both sides also release worsening statements and escalating action.