The BTC/USD pair rose in the overnight session as investors assessed the risks associated with the new Russia sanctions.
The rebound coincided with the overall weakness of the US dollar and the strong comeback of American tech companies. The dollar index has moved slightly above the lowest level this week while the Nasdaq 100 index rose by more than 50 points. Other cryptocurrencies like XRP and ETH also continued their recovery.
Still, there are concerns about how lessons from this crisis will influence future regulations. Already, regulators are looking at ways to ensure that sanctioned individuals are not able to use cryptocurrencies to avoid sanctions. Christine Lagarde has made a case for tightening these regulations. The performance of Bitcoin was the opposite of what S&P 500 did. The index dropped by more than 40 points on Monday. In the past few months, the two assets have had a correlation coefficient of 0.60. A coefficient of 1.0 is usually a sign that they have a closer correlation.The four-hour chart shows that the BTC/USD pair gained momentum in the overnight session as demand rose
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