According to a coindesk report, the bitcoin price was up and the cryptocurrency market was up as investors remained cautious due to the ongoing Russia-Ukraine conflict. Investors are also waiting for US President Joe Biden to issue a crypto executive order. As per Coindesk report, the directive will describe America's approach to regulating cryptocurrency.
Bitcoin, the world's most valuable cryptocurrency, went up almost 8 percent to USD41,545.92. Ethereum, the second-largest cryptocurrency, was up 7.46 percent to USD2,720.91. XRP was up more than 3 percent, Terra was up more than 18 percent, Solana was up more than 5 percent, and Avalanche was up more than 8 percent.
Dogecoin was up over 2.91 percent, Polygon was up 5.60 percent, Shiba Inu was up 3.94 percent, and Chainlink was up 7 percent, among other prominent alt coins.
"Bitcoin and Ethereum have increased by about 7 percent in the last 24 hours, trading at over USD41,000 and USD2700, respectively. BTC's support remains near USD37,000, with resistance ranging from USD43,000 to USD45,000, indicating a trend reversal. According to the market valuation, most cryptocurrencies are in the green, achieving significant gains, as per market analysts.