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Fintech

What bitcoin needs to stabilise as the crypto drops below $40,000

Sanctions on Russia's central bank have drained the global system of US$300bn and could hit risk assets in the weeks ahead, a Coinbase analyst says

Bitcoin extended its losses on 4 March, falling below $40,000 with investors concerned about the worsening war between Russia and Ukraine, after Russian troops seized Ukraine's largest nuclear power plant.

The cryptocurrency was trading on the afternoon of 4 March, New York time, at around $39,844 or down 5.4% over the past 24 hours, according to CoinDesk data.

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