Bitcoin Plunges More Than 2% After Sanctioning Russian Crypto Market

Bitcoin price fell 2.05% today (April 22) to $40,654.0.

Bitcoin moved into negative territory This morning came after the Dow Jones Industrial Average closed 368 points lower on Thursday (April 21). Fed Chairman Powell signaled that it might soon raise interest rates again.

  • The Dow Jones Industrial Average fell 368.03 points, or 1.05%, to close at 34,792.76.
  • The S&P 500 was down 65.79 points, or 1.48%, to close at 4,393.66 points.
  • The NASDAQ fell 278.41 points, or 2.07%, to close at 13,174.65.

Crypto Market Movement

Recently, the Russian crypto market was shaken after it was sanctioned by Western countries.

Russia’s $124 billion cryptocurrency market is facing new sanctions that will force Russia to withdraw from Ukraine. Western nations are concerned that Russia could use cryptocurrencies as a monetary tool to circumvent sanctions.

Yesterday (April 21), Binance, the world’s largest cryptocurrency trading platform, announced that Binance has suspended some services for Russians whose total cryptocurrency holdings exceed €10,000 ($10,912) in line with recent European Union (EU) sanctions.

The event caused a shock to the Russian crypto market. The damage is estimated at around 10 trillion rubles.

The Spot Market is Open

Friday, April 22, 2022

Crypto
Updated at
USD
Price

Change

%Change
20.10 BTC40,398.98-329.12-0.81
20.10 ETH2,999.71-4.81-0.16
20.10 LTC107.87+0.43+0.40
20.10 BNB412.34+6.72+1.65
20.10 XRP0.73-0.01-1.90
20.10 ADA0.92+0.01+0.89
20.10 DOT18.42-0.04-0.22
20.10 DOGE0.140.00+0.22
20.10 UNI8.97+0.04+0.49
20.10 LINK13.75+0.13+0.95

Leave a Reply

Change Language
%d bloggers like this: