Bitcoin

While crypto has shown resilience to geopolitical shocks in the past, the current macro backdrop of tight liquidity, regulatory headwinds, and risk-off sentiment means any additional uncertainty can amplify sell-offs. The strike on civilian infrastructure and the cathedral could harden positions on both sides, reducing the likelihood of de-escalation and prolonging the conflict's economic drag – higher energy prices, supply chain disruptions – which historically pressure risk assets.

Russian strikes in Ukraine killed nine people and damaged a historic cathedral, while a Ukrainian drone attack in the Russian city of Tula killed three and wounded three.