Crypto On Feb 25: Market Bounces Back Amid Escalating Russia-Ukraine Crisis

The cryptocurrency market bounced back in green, with top coins including Bitcoin and Ethereum, gaining momentum even as the Russia-Ukraine crisis escalated without signs of a ceasefire. The global market cap was up 7.40 percent at $1.77 trillion as of 3.19 a.m. ET.

Bitcoin rose 7.91 percent to $38,306. Ethereum, too, surged 8.94 percent to $2603, CoinMarketCap data showed.

Barring Tether and USD Coin, all top 10 coins were trading higher. Meme cryptos Shiba Inu and Dogecoin were on the uptick.

The bullishness came amid the Russia-Ukraine crisis that pulled the top coins back the previous day. Industry insiders said cryptocurrencies are driven by factors like volatility and inflation that are a "good hedge" in tough times.

Raj Kapoor, the chief advisor at aCryptoverse, said, "This is not to say that the upwards swing has commenced. But the signs that emerge are evident."

"The inevitability of the Russian invasion seems to be discounted for now, and even as our stock markets crash, investors are looking at hedging their investments, and the bear crypto market seems to offer some fundamentally good pickings," Kapoor told International Business Times.

Shivam Thakral, CEO of Indian exchange BuyUcoin, said, "Bitcoin and crypto have been tipped to have intrinsic resistance to macroeconomic trends. We can use the current market trends to be a testament to the hypothesis."

In other news, Venezuela is in talks with Spain's Bitbase to install new bitcoin ATMs. CryptoBuyer installed the first bitcoin ATM in Venezuela in 2019.

The crypto market is highly volatile, and experts recommend that investors not make decisions based on the sudden price shift.