Russia Allows Bitcoin Payments to Evade Sanctions

Russia Allows Bitcoin Payments to Circumvent Sanctions

According to the Frankfurter Allgemeine Zeitung, Russia is set to allow payments in Bitcoin as a means of circumventing international sanctions. This move marks a significant shift in the country's financial strategy and could have far-reaching implications for global cryptocurrency markets.

Bitcoin Drops by 5.69% to $58,987

The Marketscreener CH reports that Bitcoin has experienced a sharp decline of 5.69%, bringing its value down to $58,987. The drop follows an earlier decrease where the cryptocurrency fell by 3.98% on Saturday evening GMT.

Bitcoin Reserve Bill Advances in U.S. Senate Banking Committee

A report from Crypto News Flash highlights that Senator Cynthia Lummis's proposed legislation regarding Bitcoin reserves has made significant progress within the U.S. legislative framework. If passed, this bill would enable the U.S. government to hold Bitcoin as part of its reserve assets, potentially driving up BTC prices significantly.

Panic Selling Dominates Cryptocurrency Market: Major Declines for Bitcoin and Ethereum

Krypto Magazin details how panic selling has led to substantial declines in major cryptocurrencies like Bitcoin and Ethereum. According to Twitter posts cited by Krypto Magazin, these digital currencies have seen dramatic drops with BTC falling from $70K to $52K (-26%) and ETH plummeting from $3400 to $2100 (-39%). Analysts are comparing this crash with previous market downturns such as those caused by COVID-19 or FTX collapses.

Market Opening Anticipated Amidst Significant Losses – Bitcoin Plunges Further

The Oldenburger Onlinezeitung notes that European stock markets are bracing for their Monday opening following heavy losses last Friday. Asian markets have already shown negative trends with notable declines across various indices including Nikkei and Australian stocks, while digital currencies like Bitcoin saw further plunges reaching below €51,000 at one point - marking around a 12% loss since Sunday afternoon.

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