Bitcoin and crypto market tank 7% as Putin announces military operation in Ukraine

Bitcoin (BTC) and the broader cryptocurrency market have entered yet another sharp correction as Russia announces a ‘military operation’ in Ukraine.

As of press time, Bitcoin is seeing a sharp 7% drop and is currently trading at $35,359 levels with a market cap of $661 billion. This has extended Bitcoin’s weekly losses to almost 20%. All of the top ten altcoins including Ethereum (ETH) are also down anywhere between 8-10%.