Bitcoin continues to decline with the start of Russia’s attack on Ukraine. Almost all major altcoins are bleeding, as well as the leading cryptocurrency.
After Russia’s attack, the US and world leaders made a series of statements condemning Russia, warning of the dire consequences of Putin’s actions. Russian troops, ignoring international condemnation and sanctions, warned that any intervention effort by other countries would have “unprecedented consequences” and launched their anticipated attacks on Ukraine. The price of Bitcoin plummeted after Putin announced live on air a “special military operation” to complete the “disarmament” of Ukraine.
According to CoinMarketCap data, the total cryptocurrency market cap continues to decline. Its market value dropped to $1.55 trillion in a matter of hours. A significant portion of these losses occurred immediately after the Russian offensive. Bitcoin slumped from $37,000 to just under $35,500 in less than 30 minutes. When we look at CoinGecko data, we see that Bitcoin has decreased by 10% in the last 24 hours and by 1% in the last 1 hour. Bitcoin market cap was $657,454,225,016 at the time of writing.
According to the data obtained, over $242 million was liquidated in the early hours following the start of the attacks, which Vladimir Putin called a “special military operation” in the cryptocurrency market. Over $411 million has been liquidated in the last 24 hours following Thursday morning’s moves. About 114,700 traders were liquidated and the largest single liquidation order was on OKX.
World Leaders Make Statements
United Nations Secretary-General Antonio Guterres:
“Withdraw your troops to Russia for the cause of humanity, President Putin. The worst thing for humanity since the beginning of the century is war. Don’t let this start in Europe.”
Finnish President Sauli Niinistö:
“I condemn Russia’s military actions in Ukraine. While Russia’s actions are directed against Ukraine, they are also an attack on the entire European security order. We have great compassion for Ukraine and are looking for ways to increase our assistance to the country.”
Ukrainian Foreign Minister Dmytro Kuleba:
“Putin launched a large-scale offensive against Ukraine. The peaceful cities of Ukraine are on strike. This is a war of aggression. The world must stop Putin. It is time to act.”
NATO Secretary General Jens Stoltenberg:
“I strongly oppose Russia’s reckless war against Ukraine, which is endangering the lives of countless civilians. This is a clear violation of international law and a serious threat to the Euro-Atlantic security community.”
British Ambassador to the UN Barbara Woodward:
“Today is a solemn moment for Ukraine and for the founding ideals of the United Nations. We and our partners have made it clear that Russia’s actions will have consequences.”
Global Markets Are Also Troubled
By the way, it’s not just the cryptocurrency markets that have been shaken. US stocks continued to decline into correction zone today. Asian markets, which were open during Putin’s speech, also reacted. The Nikkei fell 1%, while China’s Hang Seng Index fell more than 2%.
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