Cryptocurrencies Fall Monday Over Rising Tensions Between Russia and Ukraine

Text size

Cryptocurrencies fell early Monday on heightened geopolitical tensions over fears Russia could imminently invade Ukraine.

Bitcoin
has fallen 0.65% to $42,085 over the last 24 hours, according to data from Coinbase, below the $47,000 level reached on Jan. 1. But it was well ahead of the year-to-date low of $33,000.

The prospect of an invasion has caused uncertainty to swirl around markets, with most cryptos having also declined on Friday.

President Joe Biden held an hourlong call with Ukrainian President Volodymyr Zelensky Sunday, according to The Wall Street Journal, as U.S. national security adviser Jake Sullivan repeated his warning of a possible invasion.

Dogecoin,
which was created in 2013 and is based on a meme, was down 0.69% to $0.14 over the last 24 hours, while

Solana
lost 2.71% and

Ethereum
was down 2.24%.

Write to Rupert Steiner at [email protected]