Mirroring Wall Street declines, the S&P 500 closed 1.7% lower on the day. The tech-heavy Nasdaq fell more than 2.3%, while the Dow Jones industrial average tumbled 470 points after stocks showed relative strength on Wednesday.
Although Bitcoin remains above $63,200—its lowest price when the war broke out 28 days ago—crypto markets are reflecting geopolitical uncertainty, Aurelie Barthere, principal research analyst at crypto data firm Nansen, told Decrypt. She pointed to Bitcoin derivatives positioning, noting “persistent demand for downside hedging” among market participants.
“On-chain, capital is behaving defensively,” Barthere added. “The clearest inflows are into yield-bearing stablecoins and liquid staking tokens, suggesting investors are prioritizing carry and capital preservation amid macro uncertainty.”
