In other developments, a report by Yahoo! Finance suggests that an executive order relating to digital assets is imminent — and could be released as early as next week.
All of this is fueling fears that Vladimir Putin is planning to invade Ukraine within days — with Western leaders continuing to engage in high-level talks.
While altcoins were also in negative territory, many major cryptocurrencies had more modest losses.
BTC's fortunes have been closely correlated with the stock market of late — and Wall Street has been especially nervous when it comes to the Ukraine crisis.
Other concerns include the Federal Reserve's plans to raise interest rates as soon as next month.
Executive Order Coming Next Week?
It's believed this would direct governmental agencies to scrutinize cryptocurrencies, come up with a strategy for regulation, and examine whether the U.S. should follow other nations in developing a central bank digital currency.