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 positively to the news, though the move was relatively modest.
“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 expressed hope that this ceasefire could mark the beginning of “the end of a very long, deadly, and hard-fought war.” He added that both sides have opened talks in an effort to end what he called “the biggest [war] since World War II.”
Over the past month, Bitcoin has tended to respond favorably to ceasefire announcements. After being rejected at $83,000 midweek, the asset fell to $79,100 yesterday but then rose more than $1,000 to trade above $80,000 following the ceasefire news.
That roughly $1,000 gain is smaller than the reaction seen after the earlier ceasefire between the US and Iran. At that time, Bitcoin traded near $68,000 and then jumped to about $73,000 within minutes.
Weeks later, Bitcoin posted another notable surge when that ceasefire was extended, and most major altcoins followed. Today, however, relatively few large-cap alternative coins recorded substantial gains; notable exceptions include SOL, which rose about 5.5%, and ZEC, which gained roughly 10%.