Bitcoin has risen to $83,000 following Ukraine's acceptance of a 30-day ceasefire. The crypto market has seen a rejuvenation, yet investors remain cautious due to Russia not signing the agreement.
Bitcoin and Ukraine Ceasefire
According to Satoshi Club, Bitcoin surged by 7% to $83,000 after Ukraine accepted a ceasefire for 30 days. The market reacted positively, and equity options also turned green. However, since Russia has not signed the agreement, investors remain cautious about potential risks.
Overall Crypto Market Overview
Alongside Bitcoin's rise, other top cryptocurrencies posted gains. Ethereum (ETH) gained 4.49% to $1,951, Solana (SOL) climbed 6.55% to $127.62, Cardano (ADA) increased 6.33% to $0.730, and Binance Coin (BNB) rose 3.66% to $554.66. XRP also surged 6.28% to $2.20. Contrary to the trend, Tron (TRX) fell by 1.53% to $0.226. Meme tokens like Dogecoin (DOGE) rose by 7.06% to $0.168, while Shiba Inu (SHIB) increased by 3.89%.
Bitcoin’s Historical Reactions to Conflicts
Historically, Bitcoin has shown resilience amid international conflicts. After the initial Russian invasion of Ukraine in February 2022, Bitcoin dropped below $35,000 but typically, prices rebound within 50 days, indicating its potential as a geopolitical hedge.
The crypto market shows positive momentum following the recent Ukraine ceasefire and Bitcoin's rise. However, investors remain focused on future geopolitical developments and their impact on the market.
