Bitcoin, Ethereum, other crypto down after alleged Russian missile hits Poland

Bitcoin, Ethereum, other crypto down after alleged Russian missile hits Poland

Bitcoin and Ether fell along with the majority of the top 10 cryptocurrencies by market capitalization on Wednesday morning, following reports that Russian missiles killed two people in Poland.

According to Reuters, paramedics claimed that two people were killed in an eastern Polish village near the Ukrainian border. Other news reports reveal that the casualties were caused by what Kyiv, the capital of Ukraine, described as the deadliest Russian missile strikes since the conflict in Ukraine broke out.

Biden calls for an emergency meeting with NATO

The explosion, which Ukrainian President Volodymyr Zelenskyy called a “very significant escalation”, prompted US President Joe Biden to call an emergency session of NATO and Group of Seven (G7) leaders on Wednesday.

Biden said it was “unlikely” that Russia launched the missile that killed two in NATO ally Poland, but he offered support for the country’s investigation into what it described as a “Russian-made” missile.

U.S. President Joe Biden. Image: The Hill.

A deliberate, hostile action against NATO member Poland can lead to a collective military response from the organization, according to the treaty’s Article 5.

“We agreed to support Poland’s investigation into the explosion,” CNN quoted Biden as saying. “I will make sure we find out exactly what happened,” the president said, adding that the leaders expressed sympathy over the deaths of two people.

(UPDATE: Poland and NATO said Wednesday that a missile that hit their country was likely a stray launch by Ukraine’s air defenses — and not a Russian attack — calming global concerns that the conflict in Ukraine could spill over the border, Reuters reported.)

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Bitcoin, other crypto sensation shock wave of missile attack

As the war between Ukraine and Russia may spread to Polish soil, the prices of key cryptocurrencies may face an unexpected setback. Crucial levels have been established to predict the next possible path for BTC, ETH and other leading cryptocurrencies.

Bitcoin (BTC) traded at $16,776, down 10% over the past seven days, while Ethereum (ETH) traded at $1,235, down 7.5% in the past week, Coingecko data shows.

Bitcoin price

Image: Crypto Insiders

According to Marc Chandler, chief market strategist at Bannockburn Global Forex in New York, stocks fluctuated and the US dollar rose at one point after early reports of the missile attack, when Bitcoin and the broader market were strained and statistics suggested inflation was on the way down.

In other crypto products, Polygon rose 2.5% to $0.94 and Solana gained 2% to $14.30, but still traded down around 40% for the week as Alameda disposed significant volumes of its reserves in the crypto in an effort to maintain the price of FTT. , the original token of its sibling company FTX.com.

BTC total market cap at $317 billion on the daily chart | Featured image from UNIAN, Chart: TradingView.com

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