Russian President Vladimir Putin announced today on starting a special military operation in Ukraine, saying that the goal is to demilitarize and denazify the country. The situation was tense in the proceeding months as there were massive troop buildups.
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The crisis is around the status of Crimea and part of Donbas. While everyone is concerned about the situation, and the impacts on human lives, markets respond to the situation. Russia is a leading exporter of crude oil and gas, accounting for about 12% of the world's supply. Analysts state if Russia's economy goes down, the global economy will too.
Prices of cryptocurrencies and stocks significantly declined in the next 24 hours. BTC price dropped by 8.5%, going down $35.000, and hitting $34.400. The current price of the coin is around $35.300. Ethereum dropped by 12% and now trades at $2.300.
The total crypto market cap stands at $1.5 trillion, which means a 9.74% decrease over the last day.