Most cryptocurrencies declined on Friday as traders reacted to geopolitical risks emanating from Russia and Ukraine.

On Friday, U.S. President Biden urged Americans to leave Ukraine immediately, warning “an invasion could begin at any time.” For now, the U.S. has ruled out sending troops into Ukraine despite Russia's military activities.

Bitcoin (BTC) dropped as much as 5% over the past 24 hours, compared with a 4% decline in ETH and a 7% dip in SOL. Stocks were also lower while traditional safe havens such as gold and the U.S. dollar rose. Markets eventually stabilized later in the New York trading day.

Technical indicators are mostly neutral for bitcoin, showing support at $35,000-$40,000 and resistance at $46,000.

Over the past 10 days, a majority of trading volume occurred at $41K-$41.5K BTC, according to Jason Pagoulatos, an analyst at Delphi Digital, a crypto research firm. "If that level is lost, we likely move towards the volume gaps left behind, which happens to coincide with $38.5K."

Latest prices

●Bitcoin (BTC): $42334, −4.23%

●Ether (ETH): $2914, −6.53%

●S&P 500 daily close: $4418, −1.90%

●Gold: $1865 per troy ounce, +1.55%

●Ten-year Treasury yield daily close: 1.96%