The geopolitical tension between Russia and Ukraine has resulted in investors seeking safe-haven assets. Contrary to expectations by crypto investors, Bitcoin 

BTC

$18,124

 has failed to rise along with gold and it remains closely correlated with the U.S. stock markets.

Lloyd Blankfein, the former CEO of Goldman Sachs, said that the actions of governments freezing accounts, blocking payments and inflating the U.S. dollar should all be positive for crypto but the price action suggests a lack of large inflows.

On-chain data suggests that investors may be accumulating Bitcoin for the long term. Data from Santiment shows that 21 out of the past 26 weeks have seen Bitcoin move off the exchanges.

Could Bitcoin climb back above $40,000 and pull altcoins higher? Let’s analyze the charts of the top-10 cryptocurrencies to find out.