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War-driven attention and cryptocurrency returns: The case of the Russia–Ukraine war

A. Verma & Madhumita Chakraborty

IIMB Management Review2025https://doi.org/10.1016/j.iimb.2025.100552article
ABDC C
Weight
0.41

What the paper says

The paper investigates how attention to the Russia-Ukraine war affects cryptocurrency returns by creating a Google search volume index (GSVI) using Google trends keywords. It finds that crypto returns react positively to attention to war and negatively to the volatility index (VIX), demonstrating that investor fear during times of crisis may increase interest in cryptocurrencies. The research provides specific insights into crypto markets that can aid portfolio managers and regulators. It also adds to the limited studies on the impact of war on cryptocurrency returns.

2 citations

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Cite this paper

https://doi.org/https://doi.org/10.1016/j.iimb.2025.100552

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@article{a.2025,
  title        = {{War-driven attention and cryptocurrency returns: The case of the Russia–Ukraine war}},
  author       = {A. Verma & Madhumita Chakraborty},
  journal      = {IIMB Management Review},
  year         = {2025},
  doi          = {https://doi.org/https://doi.org/10.1016/j.iimb.2025.100552},
}

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War-driven attention and cryptocurrency returns: The case of the Russia–Ukraine war

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Evidence weight

0.41

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.25 × 0.4 = 0.10
M · momentum0.55 × 0.15 = 0.08
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.