“In percentage terms, bitcoin recorded the largest daily candle in more than a year, gaining more than 18% day-over-day at the highest point of the rally,” Mikkel Morch, executive director at crypto hedge fund ARK36, said in an email. “While it seems that the second leg of the move was at least partially fueled by a small short squeeze, overall, the rally was driven by a huge spike in demand.”
Bitcoin Nears $45K on Increased Demand From Ukraine and Russia
