Last week, the Bitcoin and altcoin market tumbled with news from Russia and Ukraine. Investors turned to safe-haven assets such as gold as the market was gripped by anxiety. As the cryptocurrency market is seen as relatively risky, funds outflows have been seen in such assets. After that, BTC fell below $ 40,000. BTC, which entered the weekend around this time, was shaken by a news from the USA. As Kriptokoin.com, we are giving the details…
Bitcoin has fallen again
An estimated 150,000 Russian soldiers are within the reach of the Ukrainian borders. The US has said for months that it doesn’t think a final decision has been made, but on February 18, US President Joe Biden said he believed Putin had decided to attack the country “in the coming days”. After that, tensions started in the markets. Russia is adamant that it has no plans to attack Ukraine, a country of 44 million people. According to the US, Russia has brought more than 150,000 troops closer to the Ukrainian borders, both in Russia and Belarus. “40 to 50 percent are in the offensive position,” says a US defense official.
Last night, Reuters reported that the USA said that Russia could attack Ukraine at any moment. In the statements, it was stated that Biden will hold a crisis meeting with his senior advisers on Sunday. After this announcement, the fear in the market saw an increase. Bitcoin has experienced a 4.56% drop over the past 24 hours and retraced as low as $38,229. Above, you can see the one-day chart of BTC and the sharp decline.
There was also a retracement in altcoin prices
Considering other cryptocurrencies, which are at the top with their market value, Ethereum (ETH) seems to have retreated to $ 2,600 with a decrease of 6.33%. Binance Coin (BNB) fell 6.30 percent and Cardano fell 7.08 percent. Solana (SOL) fell 3.73 percent. Avalanche and Terra fell 7.64 percent and 7.36 percent, respectively. Shiba Inu and Dogecoin fell 11.99 percent and 5.34 percent, respectively. Among those in the top 10 with its market value, XRP exhibited the least decline with 0.45 percent.
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