After the start of the Russian military operation in Ukraine on Wednesday night, the price of bitcoin plummeted from 37,944.26 to 34,950.06 units, according to reports.

The value of the cryptocurrency dropped 7.95 percent in the last 24 hours; however, the most pronounced decrease occurred after 10:00 p.m. Mexico City time.

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Meanwhile, data from Coindesk, the crypto active was already reporting a free fall due to the actions taken by Russia, in which military operations are already registered in Ukraine.

During the trading session on Wednesday, bitcoin still had a price of 39,198 units, but minutes after the Russian attack was confirmed, the price began to fall, losing much of its value.

Since the beginning of the conflict between the two nations, the digital asset market has experienced strong volatility, coupled with oil prices that shot up to $100 per barrel tonight.