As Missiles Strike Ukraine, Bitcoin drops by 9%.

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Bitcoin price is continuously decreasing globally as the scale of war expands in Ukraine. The airport has been captured and missiles are reign down in the capital city in Kyiv.

  • BTC was down 8.9% to $35,440.95 as of the present time, according to CoinGecko data. 
  • President Vladimir Putin warned U.S. and NATO from getting involved and asked Ukrainian forces to surrender.
  • “Anyone who tries to interfere with us, or even more so, to create threats for our country and our people, must know that Russia’s response will be immediate and will lead you to such consequences as you have never before experienced in your history,” Putin said. “We are ready for any turn of events.”
  • The US and its allies are expected to hit Russia with a broad sanction package in the coming hours. These sanctions are expected to target Russian banks, Putin’s cabinet, and circle of business associates but are not expected to cut Russia off from the global financial system.
  • Russia’s former Prime Minister, Dmitry Medvedev, has previously said that disconnecting Russia from SWIFT would be a declaration of war.
  • However, Presidential spokesman Dmitry Peskov has backed down from language calling a potential disconnection a “serious threat” in response to a non-binding resolution passed by the European Parliament in April that called on Russia’s expulsion from SWIFT should an invasion take place.
  • Russia has pushed ahead with the development of a central bank digital currency as an apparent contingency should it lose access to SWIFT.
  • Within Asia, market reaction was cautious but major stock indices on the continent are in the red.
  • Tokyo’s Nikkei 225 index is down 2% on-day, while Hong Kong’s Hang Seng is down 3.3%. In Taiwan the TAIEX is down 2.5% while Singapore’s Straits Times Index is down 3%.
  • Futures for the Dow Jones were down 2% in overnight trading, while futures for the S&P 500 were also down 2%.
  • CNN has reported that Moscow’s stock exchange has suspended trading until further notice.