Wall Street open sends Bitcoin to $40K as latest BTC price surge passes 6%

Bitcoin (BTC) got a boost from the commencement of Wall Street trading Feb. 28 arsenic U.S. stocks opened to a defining week for markets amid geopolitical tensions.

BTC/USD 1-hour candle illustration (Bitstamp). Source: TradingView

Traders oculus BTC exit beyound $40,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to $40,560 connected Bitstamp aft the opening doorbell Monday.

The determination concluded what had been a comparatively calm play punctuated lone by a comedown into the play close.

With the monthly adjacent approaching, eyes were connected whether Bitcoin could definitively debar sealing a 4th period of declines successful a row. 

— G a a h (@gaah_im) February 28, 2022

With the Wall Street spread up totaling $1,900 successful an hour, the temper among traders favored an onslaught of $40,000 absorption to reassert beingness higher.

For fashionable trader and expert Crypto Ed, $42,000 was an country of interest.

— Crypto_Ed_NL *not asking to nonstop DM's* (@Crypto_Ed_NL) February 28, 2022

U.S. stocks were meantime unexpectedly calm connected the unfastened successful the aftermath of a oversea alteration successful relations with Russia, including the astir full prohibition connected transacting with its cardinal bank.

The S&P 500 traded down astir 1% astatine the clip of writing, with the Federal Reserve perchance already taking enactment to cushion the blow of Russian sanctions.

"From present the thought is that if BTC tin interruption 39.5k I deliberation 41.5/42.0k comes next, and I'd expect LUNA to proceed outperforming. Keeping my absorption connected it arsenic agelong arsenic it works," fashionable Twitter relationship Pierre wrote successful a cross-crypto update.

Altcoins spot calm commencement of week trading

On the taxable of Terra's LUNA token, this was 1 of lone 2 standouts among large altcoins astatine the clip of writing.

Related: War puts BTC terms to the trial — 5 things to ticker successful Bitcoin this week

LUNA/USD was up 3.9% astatine $78.27, inactive down person Solana (SOL) which managed 4.4%.

By contrast, Ether (ETH), the largest altcoin by marketplace cap, was down 1.6% connected the time astatine $2,718.

ETH/USD 1-hour candle illustration (Bitstamp). Source: TradingView

For most, however, adjacent the short-term timeframes remained a enigma acknowledgment to geopolitical events.

"I honestly, honestly, don't cognize what to expect this week from the markets. Slightly successful favour of higher for risk-on assets, but it's an adjacent stake almost," Cointelegraph contributor Michaël van de Poppe admitted.