The crypto market has fallen as a result of the military operation Russia started in Ukraine with Bitcoin falling to the $34,000 level.
Russia attacked the military infrastructure and border guard units of Ukraine which shocked the entire world and the crypto market responded accordingly.
Reports today mentioned several explosions in different military areas of Ukraine. Volodymyr Zelensky, the president of the country, declared that “Putin has launched a full-scale invasion of Ukraine.”
Among the cities affected were Kyiv, Kharkiv, and Dnipro. Martial law was imposed in the entire country and war sirens could be heard in Ukrainian cities.
Most world leaders, including the president of the US, Joe Biden, and the PM of the UK, Boris Johnson, condemned the attack.
It was reported that troops and military vehicles have also entered Ukraine from Belarus.
These actions threaten not only the peace of Europe but also the financial markets. Indeed, stock markets around the world have dropped and the crypto market is no different.
Yesterday, Bitcoin had a value of $39,000, which, today, has fallen to less than $34,500. Altcoins have also fallen by double-digits. Among them, we can mention Ethereum, Shiba Inu, Polkadot, Solana, Cardano, and Dogecoin.
Liquidations have increased to more than $400 million on a daily scale and over $300 million in the previous 12 hours.
The crypto market cap has fallen by around $200 billion since yesterday to $1.6 trillion today.