Bitcoin was trading at just more than $41,400, down 4.72 percent. Ethereum, the second biggest cryptocurrency by market value, was down 6.18 percent at $2,730.

Bitcoin and other major cryptocurrencies plummeted in value on Friday as investors' appetite waned after Russia's escalation of its war on Ukraine.

Bitcoin was trading at just more than $41,400, down 4.72 percent. Ethereum, the second biggest cryptocurrency by market value, was down 6.18 percent at $2,730.