Is the bull market back? Cryptocurrencies rise overall as bitcoin returns to $43,000

Cryptocurrencies overall rose during Tuesday's Asian session as geopolitical risks eased, with bitcoin returning to $43,000, ethereum regaining the $3,000 mark, coin up 5% to $413, dogcoin up 3.3% to $0.149, shibari up 5.7% and The Sandbox up 6.10%.

Yuya Hasegawa, a market analyst at cryptocurrency exchange Bitbank, said bitcoin did perform well as a safe haven asset during past times of geopolitical tension.

But he then went on to say bluntly that recent changes in the situation have made bitcoin sensitive to the volatility of U.S. stocks, so until the situation in Russia and Ukraine stabilizes, bitcoin investors may not be able to gain peace of mind.

Katie Stockton, founder of Fairlead Strategies, believes bitcoin resistance should remain unchanged at $46,730 this week, with support near $37,360.