Bitcoin tests the $45,000 mark

The price of the leading cryptocurrency continued to rise, with the quotes touching a local high just above the $45,000 level.

At the time of writing, BTC was trading around $44,300.

Over the past seven days, Bitcoin’s price has risen by 15.7%. The total market capitalization once again surpassed the $2 trillion mark, according to CoinGecko.

According to Reuters, the European Commission does not exclude that cryptocurrencies could represent a \”possible workaround\” for sanctions evasion.

\”The rise in the value of some such assets may be a reaction to attempts to circumvent sanctions. We are studying this, but no decision has been made yet,\” said one of the EU officials.

Analysts at Kaiko earlier identified a spike in trading volumes in the BTC/RUB pair amid global sanctions against Russia following its invasion of Ukraine. Analysts at Glassnode observed a significant rise in the number of Bitcoin whales.

Earlier, some experts doubted Russia could bypass sanctions through cryptocurrencies given the scale of both the economy and the imposed restrictions.

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