Bitcoin Falls Below $35,000 As Putin Orders Military Operation In Ukraine

Published 2 years ago
Bitcoin and candlestick chart


The price of bitcoin dropped below $35,000 for the first time since January on Thursday as Russia began its military operation in Ukraine, a selloff that some analysts have previously warned could continue to worsen until tensions subside in eastern Europe.


The price of the world’s most valuable cryptocurrency has slumped more than 7% since Wednesday evening (more than 9% in the previous 24 hours) dropping to about $34,763 by 11.50 pm ET before climbing back over $35,000 after midnight.

Since hitting a record high of more than $69,000 in November, the cryptocurrency has lost more than $600 billion in market value.


Ethereum, the world’s second largest cryptocurrency has taken an even bigger hit losing more than 12% in the past 24 hours.

In contrast, the price of oil continued to shoot up with Brent crude futures jumped more than 4.5%, crossing $100 per barrel for the first time since 2014.

This is a developing story.

By Siladitya Ray, Forbes Staff