Bitcoin fell sharply Wednesday night, hovering near monthly lows of CA$44K as explosions were heard in at least three Ukrainian cities. Blasts were witnessed not long after Putin announced a "special military operation" to "demilitarize" and "denazify" Ukraine.
The overall cryptocurrency market plummeted below CA$2 trillion in total market cap according to CoinMarketCap.com, a market cap level which was last seen a month ago. No cryptocurrencies we're spared as the top 100 coins all showed double digit losses with exception of the stablecoins.
Stock markets are pricing in the economic impact of the invasion as stock futures are deep in the red: the DOW down over 800 points, NASDAQ down 450 or -2.5% and -3.3% respectively at the current time of 2:25 AM EST.
Given geopolitical unrest, expect negative pressure to remain going into the weekend. Investors are hesitant to increase holdings at this time as many are unsure how low the market will go. But the most important thing is to our readers in Ukraine, stay safe.
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