Bitcoin falls during session on signs of escalating Russo-Russian war

Trump: "Putin Revealed Intention for Retaliatory Attack on Russia"
BTC Touches $104,000 Intraday... Altcoins Decline by 2%
Experts: "BTC Lacks Upward Catalyst... Expected to Remain Stagnant"

As signs of escalating war between Russia and Ukraine emerged, the cryptocurrency market, including Bitcoin (BTC), declined on the 5th. Donald Trump, the former US President, announced on the 5th through his social media platform 'Truth Social' that Vladimir Putin, the Russian President, claimed a retaliatory attack on Ukraine. Trump stated that "President Putin spoke very strongly that he would need to respond to Ukraine's recent attack on Russian air bases." This means that Putin expressed his intention to launch a retaliatory attack after Ukraine destroyed dozens of aircraft, including long-range bombers, through surprise drone attacks. As news spread that the seemingly quiet war was intensifying again, asset markets declined, and the cryptocurrency market also fell. Bitcoin touched the $104,000 level, and multiple altcoins declined by approximately 2%. ◇Bitcoin = As of 4 PM on the 5th, the Bitcoin price on Upbit was 144,920,000 won. Bitcoin's dominance was 64.12%. According to on-chain analysis platform Sigbit, the long and short betting ratio in the Bitcoin futures market was 38.40% and 61.60%, respectively. Experts have also begun to predict Bitcoin's stagnation due to consecutive declines. Cryptocurrency media Cointelegraph reported, "Currently, there is a lack of catalysts that could stimulate the volatility of risk assets under the macroeconomic situation," and "Market participants expect Bitcoin to move within a box range for the time being." ◇Rising Coins = As of 4 PM on the 5th on Upbit, Aergo (AERGO) recorded the largest increase, rising by approximately 11%. Aergo Coin (AERGO) is a typical utility coin. Blocko developed the Aergo blockchain mainnet in 2018. According to the whitepaper, Aergo Coin aims to build an ecosystem encompassing decentralized applications and secure cloud service providers as an 'enterprise-ready 4th generation blockchain protocol' integrated with IT platforms. ◇Fear and Greed Index = The digital asset Fear and Greed Index provided by Alternative entered the 'Neutral' stage at 57 points. The neutral stage is a section where psychological resistance and support from market participants appear, indicating important decision-making for future price movements. The Relative Strength Index (RSI) for cryptocurrencies provided by Sigbit was recorded at 44.3, in a 'neutral' state. RSI determines the relative strength between upward and downward pressures of a specific asset price and indicates the overbought and oversold scales of a particular asset. Reporter Seung-won Kwon ksw@blockstreet.co.kr