[Analysis] "Russia-Ukraine war may emerge as a new variable for Bitcoin"

With investor appetite for Bitcoin (BTC) weakened by the war between the United States and Israel and Iran that began in February, analysis has emerged that the still-ongoing Russia-Ukraine war could also affect Bitcoin.

On the 27th (Korea time), CoinDesk, a media outlet specializing in virtual assets (cryptocurrencies), reported that "Ukraine recently struck ports and refining facilities in Russia's Leningrad region with drones," adding that "as a result, about 40% of Russia's crude oil export capacity was affected." It said this could be the most severe supply shock since 2022.

CoinDesk said Ukraine's air strikes could add further strain to the current Middle East war-driven disruptions to oil supply. The outlet analyzed that "earlier, the United States partially eased sanctions on Russian crude to fill the oil supply gap caused by the war with Iran, but disruptions to Russia's oil supply could weaken the effectiveness of that strategy."

If oil supply is disrupted, international oil prices could rise and stoke inflation. If this delays the slowdown in inflation, central banks will face constraints in pursuing monetary easing.

Meanwhile, as of 3:50 p.m. on the day, Bitcoin was trading at $68,663, down 2.01% from the previous day.