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Cryptos: Bitcoin, Ether dive as Russia's assault on Ukraine rocks markets

The largest token fell as much as 8.5% to $34,337 after Vladimir Putin's push to demilitarise Ukraine started with a barrage of missile attacks on Thursday

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Bloomberg
Cryptocurrencies extended declines as Russia’s attacks on targets across Ukraine sent risk assets reeling, with Bitcoin slumping to a one-month low.

The largest token fell as much as 8.5% to $34,337 after Vladimir Putin’s push to demilitarise Ukraine started with a barrage of missile attacks on Thursday. Second-ranked Ether declined as much as 12% to $2,301.84. Other coins like XRP, Cardano and Solana were down as well.

Read more: Stocks Sink, Brent Scales $100 on Russia Assault: Markets Wrap

Bitcoin’s swings during the past weeks of escalating geopolitical tensions have undermined the argument that cryptocurrencies offer a hedge in times of trouble. That’s

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First Published: Feb 24 2022 | 3:00 PM IST

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