After having reached a weekly rally of 14% this Thursday, the price of Bitcoin fell 7.3% on Friday, March 4, to position itself above US$40,000. The decline comes amid heightened investor uncertainty over the escalation of the Russian invasion of Ukraine.
According to a report from the Criptonoticias portal, both the shares grouped in the Nasdaq index, as well as those reflected in the S&P 500 and Dow Jones, opened this Friday with negative trends. Shortly after trading began, the Dow Jones Industrial Average fell 331 points, or 1%; while Nasdaq and S&P 500 showed falls of 0.6% and 0.9%.
Hours later, Bitcoin was trading at $40,710, down 7.3% in the last 24 hours. The drop coincided with a decline in the total cryptocurrency market capitalization of $80 billion, which would be 4%. The top 10 cryptocurrencies by capitalization are also in the red, except for Avalanche (AVAX), with +1.72% growth.
“The development of the war in Eastern Europe continues to impact the performance of Bitcoin in the market. A positive announcement for the US economy, such as the creation of 678,000 new jobs in February this year, 54% more than analysts’ estimates, was overshadowed by incidents of the conflict such as the bombing of a nuclear plant by Russia , yesterday in Ukraine”, says the report by Froilan Fernández.
Source: Larepublica
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