Russian Attack To Ukraine: Bitcoin Crashes 9% 

Ukraine Bitcoin
Photo by Max Kukurudziak on Unsplash

After the Russian attack in Kyiv, the cryptocurrency market dropped 9%. Before bombarding Ukraine, Bitcoin’s market traded almost $34,725 and $39,000 on Tuesday. As the war expands in the Eastern country, markets in Asia are also dropping.

Because of the Russian attack, Bitcoin’s prices will continue to fall, impacting global markets. Here is the situation regarding Ukraine, Bitcoin, and a recap of the events, in bullet points: 

  • Bitcoin went down 9% to $34,555 after the Russian attack on Kyiv airport.
  • Initially, Russian President Vladimir Putin sent an alert to Ukrainian forces to surrender. And the president warned the U.S. and NATO not to get involved.
  • Russia’s former prime minister, Dmitry Medvedev, announced that SWIFT from Russia would be a war declaration.
  • In addition, the presidential spokesman called a potential disconnection a “serious threat” in response to a non-binding resolution by the EU of expelling Russia from SWIFT.
  • After that, Russia moved forward, developing a central bank digital currency impacting access to SWIFT.
  • Combined with Asia, the market saw numerous red indices in all continents. 
  • To recap: Tokyo’s Nikkei 225 index is down 2%; Hong Kong’s Hang Seng 3.3%; Taiwan TAIEX 2.5%; Singapore’s Straits Times Index 3%.
  • Finally, Dow Jones futures were down 2% the night after the attack. And S&P 500 had a similar drop of 2%.
  • CNN reports that Moscow’s stock exchange will be suspended at further notice. 

As a result, the attack in Ukraine impacted the bitcoin market and global trading. The situation in the Eastern European country is still dramatic, affecting international dynamics of multiple layers. 

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