Recent Crypto Rally Had Nothing to do With Sanctions on Russia
This week Bitcoin (BTC) price rallied all the way to $44,000 levels amid reports that the recent U.S. sanctions on Russia were the reason for that. However, new data shows that talks of Russians are evading sanctions via crypto don’t seem to be true. Russian volumes have been relatively small so far, suggesting that the price action is more due to investors positioning for an expected uptick in demand from Russia, rather than Russian demand itself. It will take meaningful capital flight to move the needle submitted by /u/SwapzoneIO |