Why Crypto Prices Are Roaring Back Today in a Show of Strength

cryptonews.com:

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As investors liquidate their digital assets, the cryptocurrency market remains in the grip of the bears. However, in the last twenty-four hours, the crypto industry's total value locked (TVL) has increased by 0.96 percent, bringing it closer to the $1 trillion mark.

Impressively, the current bullish wave is not being led by industry giants, such as Bitcoin and Ethereum, but other alternative currencies (altcoins). What is driving crypto's resurgence, and is now a good time to buy and hold in anticipation of a bull run?

Following recent remarks from President Vladimir Putin, the seven-month-old Ukraine war is taking a new dimension. According to the Russian ruler, he will be mobilizing his military reserves after several setbacks in the campaign to take over the Ukrainian territory. 

https://m.youtube.com/watch?v=Db6qhydxdys

Putin also states there would be a series of referendums carried out in the four strategic Ukrainian regions it controls. The referenda, which kickstarted today and is expected to run till Tuesday, September 27, would lead to the annexation of Luhansk, Donetsk, Kherson, and Zaporizhzhia to Russia. Any recovery attempts and intervention from Ukrainian military forces and Western authorities would be viewed as a threat to the Russian territory.

Ukraine’s president Oleksandrovych Zelensky and Western bodies have called the supposed referendum a sham and a desperate attempt to hide their battlefield failures.

The financial market is reacting to this news; the S&P 500 closed on a negative with a 3.67% decline in the past day. Investors are currently examining the best