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Russia-Ukraine crisis: Bitcoin and other cryptocurrencies plummet

The traditional safe haven gold, meanwhile, surged to the highest level since early 2021 on Thursday


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

Reuters London
Bitcoin slumped to its lowest in a month on Thursday after Russian forces fired missiles at several cities in Ukraine and landed troops on its coast, sparking a sell-off of riskier assets. 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 per cent to $34,337 after Vladimir Putin’s push to demilitarize Ukraine started with a barrage of missile attacks on Thursday. Bitcoin is now down about 50 per cent from its all-time high set in November. Second-ranked Ether declined as much

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First Published: Feb 25 2022 | 1:29 AM IST

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