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Bitcoin price drops after Putin declares war on Ukraine

Feb 24, 2022

Putin orders the complete dissolution of Ukraine's military. The price of Bitcoin falls sharply.

The global cryptocurrency market cap dipped to US$1.58 trillion, the lowest since August, with the selloff yet to completely stabilize, as of press time.

The top five cryptocurrencies are all falling, with Bitcoin dropping 5.6% in less than two hours to US$34,958, while Ethereum fell by 7.7% to US$2,382, according to CoinGecko.

Terra has retraced some of its gains from Thursday morning Asia time, to join the crypto top 10 in the loss column to trade at US$55.89, down from its 24-hour high of US$62.92.

European aviation regulators have warned against the threat of civilian planes getting shot down in Ukraine.

The west is planning to implement sanctions on theRussiaPutin warned foreign powers against interfering.