Medha Singh and Tom Wilson

LONDON (Reuters -The Bitcoin fell to 7% Monday, its lowest level in six months. The drop was due to fears that Russia would attack Ukraine.

It is trading at its lowest level since July 24th, 7.4%. This represents a loss of 50% from the all-time high of $69,000 in November.

On Sunday, the U.S. State Department announced that diplomats and their families were to be expelled from Ukraine. This is one of the strongest indications yet that American officials fear a Russian attack in the area.

While fears of conflict sparked shares around the world, they also boosted the dollar and oil.

Nerves about the U.S. Federal Reserve meeting that began Tuesday added to the chaos. The central bank is expected to announce it will soon begin diluting the liquidity pool that has fueled growth stocks.

Other cryptocurrencies have also fallen, as they tend to follow bitcoin’s lead. 2nd-largest Ether lost 11%, to $2.253, the lowest point since July. 28.

Mark Elenowitz (President of Horizon), a company that provides services to securities exchanges, stated, “will face headwinds returning up until the macroeconomic circumstances change.”

“Generally speaking we might see more selling of potentially risky assets such as bitcoin when interest rates go up.”

U.S. listed miners Riot Blockchain, Marathon Digital, and Bit Digital lost between 7.3% to 12% during premarket trading while cryptocurrency exchange Coinbase Global (NASDAQ::) Global fell 7.8%