I have a few theories…
1 — no one really gives a shit about Ukraine (it’s all virtue signaling anyway), and has bought the scare.
2 — the large hedge funds, banks, and the usual Pelosi-types already bought the crash after shaking out all the retail investors due to the Russia, Russia, Russia insanity in the media.
3 — covid is now the thing of the past, the Fed has been given the ‘out’ to raise interest rates, so retail are now buying back into the market
BUT … the oddity is both Gold and BTC is up by a very large amount.
Gold +1%
BTC +10%
All this in the backdrop of sanctions and the cutting off of Russia from the DS financial system.
Russia in all in on Bitcoin, the only non-controlled crypto worldwide. All the other Alts are either centralized 'securities' that can be controlled or are not at scale (adoption, network, nodes, mining, ...).
Ripple is not XRP, many in the crypto-sphere think they are one in the same, they are very, very different and have nothing to do with each other.
Russia has been stacking Gold like mad, Putin knew what was up... he may be positioning his country to trade using Bitcoin as a settlement layer.