Cryptocurrencies
Bitcoin Tests the Year’s Lows as Ukraine Crisis Rocks Markets
- Largest digital asset down almost 50% from November high
- Gold is outperforming Bitcoin as investors seek a refuge
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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% to $34,337 after Vladimir Putin’s push to demilitarize Ukraine started with a barrage of missile attacks on Thursday. While Bitcoin pared its loss, it’s still down almost 50% from its all-time high set in November. Second-ranked Ether declined as much as 12% to $2,301.84. Other coins like XRP, Cardano and Solana were down as well.