The bitcoin price fell by 5% early this morning as investors fear that the crisis in Ukraine will worsen.
Bitcoin fell 5% to $37,450, with Bitcoin still hovering below $40,000 after Russian President Vladimir Putin ordered nuclear weapons to be ready at the highest level. Meanwhile, the West has set tough sanctions against Russia, with the exclusion of some Russian banks from the SWIFT system.
Investors are concerned that Russia’s continued invasion of Ukraine could lead to Western countries imposing tougher sanctions on Russia, which would impact the global economy.
The G7 countries pledged to cooperate on further sanctions against Russia and to support Ukraine in response to Russian aggression.
Japan’s Foreign Minister Yoshimasa Hayashi announced that Japan would work with the G7 countries to exclude some Russian banks from the SWIFT system.
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Monday, February 28, 2022