Bitcoin tumbles along with whole market following the Russia-Ukraine conflict

The Russian military has started a military operation in Ukraine as missile blasts have been heard covering several areas, including the capital of Kiev. Markets have fallen in response. 

Bitcoin tumbles along with whole market following the Russia-Ukraine conflict

Global crypto and stock markets plunged after Russian President Viadimir Putin declared on a national broadcast that his army would conduct a "special military operation" in Ukraine. 

The Russian military established missiles around several areas of the country. including the capital of Kiev and the coty of Kharkiv. 

The Bitcoin (BTC) price has dropped 7.26% to $35,000, Ethereum (ETH) down 9.48%, and Ripple (XRP) decreased 9.24% today, the overall crypto market cap has dropped 8.25% to $1.58 trillion. 

Volatility is spiking on other major global financial indexes like the S&P 500 (GSPC) and the Dow Jones Industrial Average (DJI) is down approx 2% in the last hour. 

Vitalik Buterin is the founder of Ethereum who lived the first six years of his life in Kolomna in Russia, tweeted at about 4 am UTC in Russian that he is:

“Very upset by Putin's decision to abandon the possibility of a peaceful solution to the dispute with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine."

He added later: “Reminder: Ethereum is neutral, but I am not.” 

Advisor to Atlas DEX Altcoin Sherpa tweeted that the focus should be on the people involved and not the impact on markets. 

The analyst will Ciemente, Lead insights Analyst at Bitcoin mining company BlockWare, tweeted: 

The Oil price has spiked to $99.50 in response to Russia's actions. Podcast host and crypto investor Anthony "Pomp" Pompliano pointed out that since Russia is the world's  third-largest producer of oil, "The impact of this situation is going to be felt globally."

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