The price of Bitcoin and most cryptocurrencies plunged further Tuesday (22/2), as Russia's attack on Ukraine drew closer following the recognition of two separate regions of Eastern Ukraine.
Based on CoinMarketCap data on Tuesday (22/2) at 12:10 WIB, Bitcoin price fell 6.49% in the last 24 hours to US$ 36,724.77. Then, the price of Ethereum fell 8.03% to US$ 2,520.69.
While the price of XRP plunged further, reaching 14.43% to US$ 0.6815, Cardano dipped 15.41% to US$ 0.8271, and Solana dipped 13.22% to US$ 82.01.
Meanwhile, the price of meme-based cryptocurrencies Dogecoin and Shiba Inu fell 10.36% to US$ 0.1257 and 13.99% respectively to US$ 0.00002356.
In a speech broadcast live, Russian President Vladimir Putin recognized two pro-Russian republics that broke away in Eastern Ukraine.
He also revealed the reasons for attacking Ukraine, saying that the pro-Western Ukrainian government was a threat to Russia.
In recent weeks, concerned investors have adopted more risk aversion strategies in anticipation of rising energy prices as well as sanctions by the US and its European allies against Russia.
"That's the sensitivity in financial markets right now, temporary confidence can evaporate quickly," said Susannah Streeter, senior investment and markets Hargreaves Lansdown.
"And that's what we've seen today, after what appears to be another slump in relations between Russia and Western powers," he told CoinDesk.
