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- The Bitcoin price declined by 8% and was trading below USD 35,000.
- Ethereum broke through the level of USD 2,400, XRP fell by 11%.
- Several altcoins have fallen by double digits. The entire crypto market once again followed the exchange and fell on Thursday, when Russian President Vladimir Putin ordered a "special military operation" to protect people in the separatist Donbas region of Ukraine, but said that Russia would "seek demilitarization and denazification of Ukraine," according to Bloomberg. It is estimated that Putin had massaged soldiers at the border. In a speech on Thursday, Putin appealed to the Ukrainian soldiers to lay down their arms and go home. He said that Russia does not plan to "occupy" its southern neighbor, but Russia must "defend itself against those who took Ukraine hostage" – the US and its allies, who crossed Russia’s "red line" with the expansion of the NATO alliance. U.S. Stock futures and stocks fell on Thursday, while bonds jumped and oil rose after the news.
Bitcoin has cut all profits this month, trading below USD 35,000. It is currently down 8% (04:24 UTC) and there is still a risk of further downside below USD 35,000. Similarly, most major altcoins are in sharp decline. ETH has fallen by 10% as it broke through the USD 2,400 level, while XRP fell below USD 0.65. ADA has fallen by 11% and may soon test the support of USD 0.80.
Learn More: This is how the Ukraine crisis could affect Bitcoin and the crypto market
Total market capitalization
After a wave of recovery above USD 38,000, the Bitcoin price faced sellers near the USD 39,250 level. BTC started a sharp decline and broke many supports near USD 37,500. There was a movement below the level of USD, which increased the risk of a movement towards USD.
On the upside, the price may encounter resistance near the USD 36,500 level. The next important resistance is near the USD 37,500 level, above which the price could rise to USD 38,000.
The Ethereum price also followed a similar path and began another decline below the USD 2,650. ETH even fell below the support zone of USD 2,500 and is now approaching the level of USD 2,350. The next important support is located near the USD 2,320 zone, below which the price could test USD 2,200.
On the upside, the price is facing resistance near the USD 2,550 level. The next important resistance is located near the USD 2,650 zone, above which the price could potentially test USD 2,720.
ADA, BNB, SOL, DOGE and XRP price
Cardano (ADA) gained bearish momentum under the support zone of USD 0.85. It even sank below the support zone of USD 0.820. The price is now struggling to stay above USD 0.80. A closing price below USD 0.80 Could trigger a larger decline towards USD 0.75.
BNB began a sharp decline from well above USD 375 and fell below USD 340. If there are additional losses, the price may decline towards the support level of USD 332.
Solana (SOL) has fallen by 12% and is trading below the level of USD 70. Further losses could trigger a sharper decline towards USD 65.
DOGE is gaining momentum below the USD 0.122 Support zone. If the bears stay in action, the price could drop towards USD 0.112. Further losses could set the pace for a move towards USD 0.105.
The XRP price has also fallen by 10% and is trading below the USD 0.665 Support zone. If the bears remain in action, the price may even decline towards the USD 0.62 Support. The next big support is near USD 0.60.
Other Altcoins Market today
Many altcoins have dropped by over 10%, including AVAX, DOT, CRO, WBTC, TRX, NEAR, UNI, ALGO, MANA, XLM, FTM and BTCB.
Overall, the Bitcoin price is gaining bearish momentum and if it falls below USD 35,000, there is a risk of a greater decline.