The first cryptocurrency was reaching $45K in the middle of Tuesday, but it sank somewhat during the American session, along with market indexes.

Despite the decrease in other risky assets and the strengthening of the dollar, Bitcoin remained resilient. Following the financial sector’s reaction to Russia’s partial disengagement from Swift, global markets fell (by 80 percent ).

This circumstance, however, has minimal impact on the demand for cryptocurrency. The volume of trade in ruble pairings with BTC and USDT on the Binance exchange has surged dramatically. According to CoinShares, crypto funds received $36 million in net asset inflows during the week, up from $239 million over the previous five weeks.

Institutions are also seeking for alternate vehicles as military tensions rise and government capital restrictions tighten. According to Glassnode, crypto whales have been actively purchasing bitcoin in recent weeks, indicating that a local bottom has been struck. The last time this happened was in May of last year, when the market restarted growth at the end of July following a two-month correction.

Technically, Bitcoin began March with a gain. As a result, the price of BTC has climbed by 1.9 percent on the day to $44,100. Ethereum has increased by 2.5 percent and is now close to $3,000. Other top ten cryptocurrencies that have gained the most traction are Solana (+6.7%) and Terra (+5.2%). According to CoinMarketCap, the overall capitalization of the crypto market increased by 2% on the day to $1.94 trillion. The Bitcoin Dominance Index is now hovering around 43%. The Cryptocurrency Fear and Greed Index increased by one point to 52, putting it in neutral zone.