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Even when the fears of a nuclear disaster in Europe have subsided, cryptocurrency’s price remains unstable. Markets are being shaken because of unresolved tensions around the Zaporizhzhia power facility.

A nuclear attack in Ukraine has awakened Europe to the reality of the situation. The Russian military bombarded Zaporizhzhia, Europe’s biggest nuclear power station, at approximately 1 a.m. GMT. There were many fires outside of the leading site recorded on Livestream. What seems to flare can be fired towards the power station in the footage. The fire may have been started by a flare rather than bombardment.

Markets Uneasy Due to Nuclear Power Plant Fire

Fears of a Chernobyl-level calamity sparked a stock market, futures, and crypto price collapse. As soon as this news was released, the S&P, DOW, and NASDAQ Futures dropped by roughly 2 %.

As international leaders asked Russia to stop its assault on the nuclear complex, tensions rose throughout the night. Prime Minister of the United Kingdom, Boris Johnson, turned to Twitter to tweet: 

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“Allow emergency responders unhindered access to the power facility immediately, and Russia must immediately halt its attacks on it”

Bitcoin’s price recovered some of its losses from earlier in the day, dropping to a low of $41,000 before rising considerably. At the time of writing, it is trading around 7% lower than the previous high set on March 2.

Fears Begin to Fade

It was approximately 4 a.m. GMT when the fire was extinguished, and firefighters are now in the area where it happened. As tensions fade, the world’s biggest cryptocurrency, bitcoin, returned to roughly $41,600, as it seems speculators purchased the drop around 8 a.m. GMT, according to reports. 

The International Atomic Energy Agency has scheduled a news conference for 10:30 CET today to update the situation. We might see significant declines in both cryptocurrency and stock markets throughout the day if new evidence emerges that suggests that the issue is not, in fact, under control. The threat to human life, on the other hand, is the most pressing worry.

Volatility is Still Present

According to the most recent information, Russian soldiers command the power facility. On the other hand, fighting might continue if Ukraine attempts to retake control of the situation. These concerns may have contributed to the present market turbulence, as Bitcoin (BTC) has given up its gains since this morning, dipping to roughly $40,800 before returning to over $41,500 in a matter of minutes.

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Alicia Maher

By Alicia Maher

Alicia Maher is an accomplished news writer with a passion for storytelling. With years of experience in the field, she is skilled at delivering accurate, engaging, and insightful news coverage to her audience.