The impact on crypto prices was quite minimal compared to the ceasefire between Iran and the US.
US President Donald Trump announced on his social media platform that the two warring parties in Europe, Russia and Ukraine, have agreed to a three-day ceasefire.
Bitcoin’s price reacted to the news positively, but in a more modest manner.
“This Ceasefire will include a suspension of all kinetic activity, and also a prison swap of 1,000 prisoners from each Country. This request was made directly by me, and I very much appreciate its agreement by President Vladimir Putin and President Volodymyr Zelenskyy,” reads the Truth Social post.
Trump also expressed hopes that the ceasefire now will be the beginning of “the end of a very long, deadly, and hard-fought war.” He added that both parties have opened talks in an attempt to end the conflict, which he described as “the biggest since World War II.”
Bitcoin tends to react well to ceasefire news in the past month or so. The asset had dipped to $79,100 yesterday after it was rejected at $83,000 in the middle of the week, but jumped by over a grand to well above $80,000 as of now.
However, this $1,000 rally isn’t as impressive as its move after the ceasefire between the US and Iran. At the time, the cryptocurrency traded at around $68,000 before it shot up to $73,000 in minutes.
Weeks later, bitcoin registered another notable price pump after the ceasefire was extended, and most altcoins followed suit. Today, very few larger-cap alts have marked substantial gains, such as SOL (5.5%) and ZEC (10%).