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Bitcoin Tumbles Amid Ukraine Fears. The Safe Haven Narrative Has ‘Fallen Apart.’

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Bitcoin and other cryptocurrencies tumbled Tuesday as investors fled risk-sensitive assets after Russian President Vladimir Putin ordered troops into Ukraine.

Bitcoin, the leading cryptocurrency, was down 5% over the past 24 hours to around $37,000, according to data from CoinDesk. It had been trading hands near $45,000 for much of last week, but plunged below $40,000 on Friday amid heightened geopolitical tensions. 

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