Market Responds Positively to Ceasefire Agreement

In a significant turn of events, the cryptocurrency market witnessed a sharp uptick following Ukraine's announcement of a 30-day ceasefire with Russia. This move, aimed at fostering a "lasting peace," was agreed upon during talks in Saudi Arabia, with the United States committing to immediately resume intelligence sharing and military aid to Ukraine.

Bitcoin's Remarkable Recovery

After a period of volatility, Bitcoin experienced a notable surge, climbing 5.68% to reach $83,012 by 2:48 pm ET. Similarly, Ethereum saw a 4.46% increase, trading at $1,947 shortly thereafter. This rebound comes after a challenging phase for cryptocurrencies, marked by economic instability, regulatory hurdles, and widespread market sell-offs that deterred investment in riskier assets like digital currencies.