Bitcoin rose to more than $44,000 for the first time since the end of last week as optimism over an easing of tensions around Ukraine renewed investors’ appetite for riskier assets.
The largest cryptocurrency by market value strengthened as much as 5.2% to $44,449. Other digital tokens also increased, with Ether jumping almost 7%, Solana up more than 9% and DeFi favorite Aave up around 7%.
U.S. equity futures rallied and stocks climbed in Europe as Russia said Tuesday that some troops are starting to return to their regular bases after completing drills. U.S. warnings of a possible Russian attack on Ukraine had reached their most urgent level yet this week.
![Bitcoin Climbs Back Above $44,000 As Appetite For Risk Returns 1 Bitcoin jumps up on reports of easing tension between russia and ukraine](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/in4IY4D8glB4/v2/pidjEfPlU1QWZop3vfGKsrX.ke8XuWirGYh1PKgEw44kE/620x-1.png)
Meanwhile, according to recent analysis, Bitcoin is forming a technical pattern that suggests a brighter period lies ahead for the world’s largest cryptocurrency.
The pattern, a so-called reverse head and shoulders, is often viewed as signaling a flip in a downtrend.
The study suggests that a target of about $53,000 would come into play for the token if it breaks the neckline of the reverse head and shoulders at about $44,600.
Bitcoin is forming a technical pattern that suggests a brighter period lies ahead for the world’s largest cryptocurrency.
![Bitcoin Climbs Back Above $44,000 As Appetite For Risk Returns 2 Bitcoin rose to more than $44,000 for the first time since the end of last week as optimism over an easing of tensions around ukraine renewed investors’ appetite for riskier assets.](https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iiFwoiE4kQfM/v2/pidjEfPlU1QWZop3vfGKsrX.ke8XuWirGYh1PKgEw44kE/620x-1.png)
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