Russian-Ukrainian crisis triggers $200 billion crypto price crash with Bitcoin, Ethereum, BNB, Solana, Cardano and XRP suddenly plummeting

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Bitcoin and cryptocurrency prices have crashed as tensions between Russia and Ukraine reach a fever pitch.

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Bitcoin price has lost almost 10% in the past 24 hours, crashing towards $40,000, with Ethereum, BNB, solana, cardano and XRP posting similar declines, wiping nearly $200 billion from the combined market of $1.9 trillion crypto in the past week.

The Bitcoin and crypto price crash is accompanied by a stock market crash triggered by US President Joe Biden’s comments that Russia could invade Ukraine within days.

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“There’s a storm blowing and the markets have battened down the hatches,” AJ Bell financial analyst Danni Hewson said in emailed comments, adding that “volatility isn’t likely to go away any time soon.”

Traders and investors are feeling increasingly nervous about the war between Russia and Ukraine. Oil prices soared, climbing toward $100 a barrel, and the VIX, a measure of market volatility, jumped nearly 15% on Thursday. Meanwhile, the chairman of the Financial Stability Board warned that the imposition of sanctions on Russia risks undermining global financial stability.

As Russia claimed it was pulling troops away from Ukraine’s border, President Biden said Russia was preparing to manufacture a reason to invade the country, warning an attack could come in the coming days.

“We have reason to believe they are engaged in a false flag operation to get an excuse to come in,” Biden told reporters outside the White House.

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MORE FORBESCrypto Suddenly Braces for a Huge $10 Trillion Earthquake as Extreme Volatility Hits the Price of Bitcoin, Ethereum, BNB, Solana, Cardano, and XRP

Prior to the latest selloff, the bitcoin and crypto market was showing signs of recovery from last month’s crater. The price of bitcoin surged above $45,000 per bitcoin last week, with Ethereum and the other top ten coins BNB, solana, cardano and XRP showing similar strength.

“Despite a brief visit to greed territory for the first time in four months last Wednesday, market sentiment has since slipped back into fear territory as geopolitical uncertainty affects risk sentiment in financial markets globally. broad sense,” Sam Kopelman, UK head of crypto exchange Luno, said in the emailed comments.

“Meanwhile, with inflation levels at their highest level in 30 years, it is likely that macroeconomic uncertainty will also affect risk sentiment in the weeks ahead.”


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