Bitcoin gives it all back and more

The news from the Ukraine today has sent all risk markets tumbling, as was noted here in previous updates. The impact of that has been widespread and the fleeing from all risk assets has dealt the leading cryptocurrencies a heavy blow. Yesterday Bitcoin buyers were out in force, but today they have been hammered. Yesterday Bitcoin rose to as high as 39,264. These latest developments have sent it charging lower again. The price has melted to as low as 34,337. The fall below 35k today does now reopen the January 24 low at 32,970. It would be a surprise if that level is not tested today. The risks of a deeper relapse below that price point are now highly elevated. Bitcoin is just now trading at 34,950