After Russian President Vladimir Putin announced a military operation in Ukraine, global markets plunged, including Asian stock markets, US stock futures, and the entire crypto market. Let’s take a look at the biggest cryptocurrencies and how they have responded to the development on the Russia-Ukraine crisis.

BTC: $34,675.57 (-8.66% over the past 24 hours)

BTC declined almost 10% over the past 24 hours, dropping its price all the way to below $35,000. It will be hard to imagine BTC to recover soon, since investors around the global across multiple financial markets will be quite pessimistic about the short-term outlook of any financial instruments. In addition, EU also announced the possibility of banning BTC and other Proof-of-Work (PoW) cryptocurrencies after 2025, citing pollution and environmental concerns.

ETH: $2334.04 (-12.11% over the past 24 hours)

Though ETH is not affected by the EU regulations on PoW cryptocurrencies, ETH is down even more than BTC over the past 24 hours, over 12% on the day and dropping all the way to just above $2,300. Clearly, the Russia-Ukraine conflicts will be a market-wide turbulence, and we should expect other altcoins, like BTC and ETH, to continue to experience declines over the next few days.

LINK: $11.85 (-15.4% over the past 24 hours)

Out of all the altcoins trading on BTCC currently, LINK is down the most over the past 24 hours, over 15% on the day, dropping LINK to below $12.