Cryptos mirrored the global stocks markets and remained relatively flat in trading over the last 24 hours as markets processed the Bank of England’s interest rate hike. Bitcoin was down 0.02% to US$40,691, staying above the key resistance level of US$40,000 analysts have said would be key to keep an eye out for.
It is the first time in almost two weeks that the coin has managed to stay over that threshold for two consecutive days, a sign positive sentiment is returning. There has been further adoption of cryptocurrencies, which is good news for digital tokens. Ukraine’s President, Volodymyr Zelenskyy, signed a virtual assets bill, legalising crypto in the country as it continues to receive donations in digital form.