Before all this whole event took place, Bitcoin is already headed downwards, so what this whole issues did to the market is that, it helped in pushing the price further lower but the won't change the overall direction.. News event can only spike the price and movement of a trend in a particular direction and I don't think it will change the overall direction, hence the price of Bitcoin should have pushed further downwards than where it's right now due to all this uncertainty.
Without a doubt news have the ability to exacerbate the response of the markets, however the difference with a war is that it is an event that is ongoing, and as the sanctions against Russia keep accumulating and the losses in terms of human lives keep growing then the effects they can have over this market can increase or decrease with time, unlike with what we see with other events which may have an effect on this market, but the effect they have is extremely limited due to the quick nature of the event itself.
The news of the war though really magnify how crypto is important on both side. Some say with the sanctions, Russia can uses crypto to get around those penalty, will the Ukrainian government is receiving lots of crypto donation.
However, with the mounting lost of lives and devastation, it's really hard to fathom what is going to happen in the next coming months. World economies are going to falter, now we have seen the price of oil starting to go up because of the war.
It really make people safe from any risk on any sanctions or economic intervention that's why its really important to have crypto on their financial system. For sure Russian and Ukrainian government see its importance and might we can see some great changes after this war ends. And maybe this could add some good impact with bitcoin since for sure other country are much aware about bitcoins existence.