Most cryptocurrencies have traded higher in the last 24 hours, pullbacks in Bitcoin (BTC) have been restricted during the Asian trading day, suggesting that buyers may stay active above the $42,000 support level. There is still a possibility for more gains, but resistance near $46,700 might stymie the price rebound.

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Bitcoin’s trading volume remains low relative to prior highs, although a decisive breakout above $46,000 could encourage additional buying activity. For now, BTC remains in a month-long trading range and is attempting to reverse a four-month-long downtrend.

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Bitcoin fear and greed index on Friday, March 25, 2022, went from the fear level of 40 to the neutral level of 47 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.

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Bitcoin is currently trading around $44,038.19, up 2.83%. In the last 24 hours, the highest it touched was $44,215.18 and the lowest was $42,753.56. Bitcoin has a current market cap of $836,421,086,876. It has a circulating supply of 18,992,250.00 BTC coins and a maximum supply of 21,000,000 coins.

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Russia’s energy chief says the country will accept Bitcoin in exchange for oil and gas

The Russian Federation’s energy chief Pavel Zavalny has floated the possibility of accepting Bitcoin as payment for its oil and gas from “friendly countries” such as China and Turkey. He said those countries could begin paying for energy in Russian Rubles, Chinese Yuan, Turkish Lira — or even Bitcoin (BTC) — rather than the international standard US dollar. According to Russian news media RBC, Chairman of the State Duma Committee on Energy Zavalny stated at a Mar. 24 press conference that he and representatives from China and Turkey have been discussing changes to preferred settlement currencies for its biggest export. He further stated that “unfriendly countries” could pay for their oil in Rubles or gold. However, it is not clear whether Russia can change the terms of existing contracts with countries that pay in Euros or USD.

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In a slew of new reports, Bank of England evaluate crypto regulations

The Bank of England Financial Policy Committee and other U.K. regulators are assessing crypto regulation after publishing reports on financial stability relating to crypto-assets and decentralized finance. The BoE report was released on Thursday, and the Financial Conduct Authority, or FCA, along with the Bank’s Prudential Regulation Authority, or PRA, also released documents simultaneously that all reference one another. The Bank’s committee, or FPC, stated in its 40-page report that crypto assets and DeFi pose a “limited” risk to the stability of the UK financial system, but it saw that risk growing “as these assets become more interconnected with the wider financial system.” In response, the FPC promised to assess those risks and make recommendations.