In the midst of the ongoing Ukraine war, reports are emerging about a potential military coup in Russia, which could significantly alter the geopolitical landscape. Based on past developments and their subsequent financial market reactions, global markets are expected to respond to this news when they open on Monday, June 26, 2023. Consequently, the crypto market might experience a considerable impact, especially considering the potential ramifications Russia’s oil and gas market could have on global markets.
Recent developments in Russia suggest a possible feud between Yevgeny Prigozhin, head of the Wagner Group, and the country’s president, Vladimir Putin. Putin warned of “crushing” the group’s attempted coup, which involves marching from southern Russia towards Moscow.
Given Russia’s significant role as a major supplier of oil, gas, and other raw materials to numerous countries, the prospect of a full-blown civil war could have a massive impact on global markets. As a result, any dip in stock prices on Monday could potentially mean an upside for the Bitcoin price and altcoins. However, the crypto market might take longer to react to the situation, as traders are likely to perceive Bitcoin as a safer asset during global uncertainty.
Furthermore, it remains uncertain how long it will take for the situation to normalize trader sentiment and how the internal coup will affect Russia’s invasion of Ukraine.
In other crypto news, FTX News reports that Bloomberg, FT, and NYT are appealing a court decision to redact customer names. Additionally, the Terra Luna Classic developer has submitted a major proposal to boost staking, resulting in a jump in LUNC price.
It is crucial to note that the content presented here may include the personal opinion of the author and is subject to market conditions. Always conduct thorough market research before investing in cryptocurrencies. Neither the author nor the publication holds any responsibility for personal financial loss.
Source: Coingape
