Bitcoin extended its losses on Friday, 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 BTCUSD, -0.92% was trading Friday afternoon New York time at around $39,844 or down 5.4% over the past 24 hours, according to CoinDesk data.
Russian troops occupied Ukraine’s largest nuclear power plant on Friday, after a fire ignited by its attack was extinguished. The U.N. and Ukrainian officials said no radiation was released, Associated Press reported.
Bitcoin prices have shown a relatively high correlation with growth stocks for the past few months. U.S. stock indexes were down sharply Friday afternoon. The Dow Jones Industrial Average DJIA, -0.53% dropped 1.1%, the S&P 500 index SPX, -0.79% lost 1.3%, while the Nasdaq Composite Index COMP, -1.66% declined about 2%.