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Bitcoin Briefly Breaks Above $45,000 Second Time This Week: Possible Reason

Thu, 02/10/2022 - 12:14
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Yuri Molchan
The largest global cryptocurrency has spiked above $45,000 again this week
Bitcoin Briefly Breaks Above $45,000 Second Time This Week: Possible Reason
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Bitcoin, the largest cryptocurrency by market cap, has spiked above the $45,000 level for the second time this week. Previously, it briefly surpassed this price mark on Feb. 8.

Image via TradingView

The day before that, as covered by U.Today, on-chain data agency Santiment predicted that the leading digital currency was likely to continue rising this week, due to a major index on the stock market that Bitcoin has been closely associated with recently: the S&P 500.

On Feb. 8, the market sentiment (Bitcoin Fear and Greed index) changed to "neutral" from "fear," and Bitcoin briefly soared to a high of $45,510. Besides, the Canadian arm of accounting giant KPMG stated that it would add Bitcoin and Ethereum to its treasury funds.

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According to a Santiment tweet posted as the week started, Bitcoin had been demonstrating a close tie to the S&P 500 index recently and has been rising along with it. Since Monday, this index has been up almost 2%.

By now, the Bitcoin price has gone down to $44,900.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at