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The Russia Crisis Makes the News: The price of bitcoin stays near $31,000

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The Russia Crisis Makes the News: The price of bitcoin stays near $31,000

bitcoin etf


  • Vipkhoone data indicate that despite fears of a Russian coup, the price of Bitcoin remained close to $31,000.
  • Ethereum and other digital assets are rising, and it appears that other digital assets are unconcerned about the events at the Kremlin as well.
  • According to President Putin, the events would result in serious consequences and were a “stab in the back.”

Despite recent events in Russia that have posed a threat to the country’s stability, Bitcoin has maintained its momentum of rising prices. Despite the uncertainties, the flagship digital asset continued to trade near $31,000.

BeInCrypto data show that BTC has gained 0.34 percent in the last 24 hours and is currently trading at $30,727, moving closer to its year-high of over $31,000.

A new wave of institutional interest in the flagship digital asset has emerged over the past week, with several traditional financial institutions applying for a Bitcoin spot ETF. Because traders appeared unconcerned with the events in Russia, this led to a market that was more bullish.



Crypto Markets Unbothered

Other computerized resources additionally seemed unbothered by the occasions occurring in Russia, with the overall business ascending by 0.44% to $1.19 trillion, as per CoinMarketCap information.

During the reporting period, Ethereum gained $1916 by 1.48 percent, while other coins like XRP, Cardano, Tron, Polkadot, and others experienced modest gains.

In the meantime, this is a far cry from how the market reacted in 2022 when Russia invaded Ukraine. At the time, traders’ convictions were influenced by the uncertainty in the countries, which led to a significant decline in the value of the crypto market.







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Russia Coup?

After Wagner chief Yevgeny Prigozhin staged an insurrection and nearly reached Moscow with his troops in what he called a March for Justice, the BBC reports that Russia experienced a volatile 24 hours. Russia is using Wagner, a mercenary group, to fight its war in Ukraine.

A former ally of President Vladimir Putin, Prigozhin said that Russian military leaders planned deadly attacks on his men. Prior to that, he had criticized the military chiefs on numerous occasions for not providing his mercenaries with sufficient equipment and ammunition.

While Prigozhin guaranteed the walk was not an overthrow, the revolt had every one of the markings of one, and President Putin depicted it as a “betray” that would be met with serious outcomes.

In the meantime, after speaking with Alexander Lukashenko, president of Belarus, the Wagner Chief called off the march about 100 miles to Moscow. According to Russian media reports, the Kremlin has dropped Prigozhin’s criminal charges and he will depart for Belarus.



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