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As Putin declares a’special military operation’ in Ukraine, bitcoin prices plummet

The Russian army has launched a military action in Ukraine, with missile explosions heard in the vicinity of various cities, including Kiev. As a result, the stock market has fallen.

After Russian President Vladimir Putin announced on national television that his army would begin a “special military operation” in Ukraine, crypto and stock markets throughout the world plummeted.

As the sun rose in Ukraine, the Russian army fired missiles at many locations throughout the country, including the capital of Kiev and the city of Kharkiv.

Today, the price of Bitcoin (BTC) has decreased 7.26 percent to $35,000. Today, Ethereum (ETH) and Ripple (XRP) both fell 9.48 percent and 9.24 percent, respectively. The total market capitalization of cryptocurrencies has plummeted by 8.25 percent to $1.58 trillion.

Other major global financial indexes are experiencing increased volatility, with the S&P 500 (GSPC) and the Dow Jones Industrial Average (DJI) both falling over 2% in the previous hour.

Vitalik Buterin, the founder of Ethereum, who spent his first six years of childhood in Kolomna, Russia, tweeted at around 4 a.m. UTC in Russian stating (according to a rough translation) he is:

“I am deeply disturbed by Putin’s choice to forego the potential of a diplomatic resolution to the Ukraine conflict in favour of war. This is a crime against the people of Ukraine and Russia. I want to wish everyone safety, even though I know there won’t be any. Ukraine is to be praised.”

“Reminder: Ethereum is neutral, but I am not,” he added later in English.


Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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