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Bitcoin Falls Below $41,000 as Russia-Ukraine Tensions Weigh

  • Token falls as much as 7%, dipping below 50-day moving average
  • Volatility seems to demonstrate a long-term downtrend: analyst
Illustrations of Cryptocurrency In Hong Kong
Photographer: Paul Yeung/Bloomberg
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Bitcoin fell below $41,000, testing its 50-day moving average, as renewed fears of a possible Ukraine invasion by Russia weighed on global markets including risk assets.

The biggest cryptocurrency on the market dipped as much as 7.4%, while Ether, the second largest token, fell 8.2% and Polkadat led a downturn in smaller-cap tokens, also known as altcoins.