Bitcoin prices fall 10% after Russia's massive invasion of Ukraine

Bitcoin recorded a total liquidity of 14,145.83 million in the last 24 hours. Ethereum recorded a total liquidity of 123.24 million during the same period.

The value of the bitcoin fell to 34k earlier today, amid news of the start of the Russian invasion of Ukraine. The asset has just broken the key support that was established in the middle of last year. At the time of the report, Bitcoin was trading around $ 35,000, according to market data provided by Trading View and CoinGecko. With the price of bitcoin falling, the reverse coin market has not been spared either, with Ethereum leading the trade at about 2351, down about 13.69%.

The total amount of cryptocurrencies in the last 24 hours is approximately 4,464.32 million, according to data provided by Quinglas. Thus, in the last 24 hours, about 153,675 traders were eliminated.

In particular, Bitcoin recorded a total liquidity of $ 145.83 million in the last 24 hours. Ethereum recorded a total liquidity of 123.24 million during the same period.

Bitcoin and cryptocurrency liquidity amid worrying situation in Ukraine due to Russian invasion

At the end of the Asian trade period and during the initial trading session in London, traders were informed that Russian President Vladimir Putin had ordered an attack on Ukraine. As tensions rise in Ukraine and its cities, the West, including the United States and Europe, has opted for tougher sanctions.

However, Putin has made it clear that he is not backing down and that the West should join.

"Anyone who tries to interfere with us, or even more, endangers our country and our people, must know that Russia's response will be immediate and will have such consequences." " Which he had never seen in his history. "We are ready for any turn," Putin said.

Bitcoin has moved significantly from a speculative asset to a primarily auxiliary digital asset. With that in mind, market strategies have shown how growing conflicts between Russia and Ukraine can affect bitcoin and the entire crypto market.

The global supply chain, especially crude oil, is expected to grow in the coming months, following the imposition of tough sanctions on Moscow by major markets, including the European Union and the United States.

Russia, in particular, is a major oil producer and its declaration of war has sent oil prices skyrocketing. As a result, you can expect all other items that depend on crude oil to maintain high prices, including food products.

Otherwise, the crypto market is also reacting to US monetary policy, including rising interest rates.

Side note

The crypto market has marked its annual bear market after the bull market of the last two years. The total cryptocurrency market capitalization is about 64 1.64 trillion, down 11% in the last 24 hours.

Ethereum co-founder Vitalik Buterin condemned the Russian government for invading Ukraine.

"I am deeply saddened by Putin's decision to abandon the possibility of a peaceful resolution of the conflict with Ukraine and go to war instead. This is a crime against the Ukrainian and Russian people. I want to protect everyone." Although I know there will be no protection. The glory of Ukraine, "Batrin said in a tweet.