The impact on cryptocurrency prices has been minimal compared to the ceasefire between Iran and the United States.
US President Donald Trump announced on his social media that the two warring parties in Europe, Russia and Ukraine, had agreed to a three-day ceasefire.
The price of Bitcoin reacted positively to the news, but in a more modest way.
“This ceasefire will include a suspension of all kinetic activity, as well as a prison exchange of 1,000 prisoners from each country. This request was made directly by me, and I very much appreciate the agreement of President Vladimir Putin and President Volodymyr Zelenskyy,” the Truth Social message read.
Trump also expressed hope that the ceasefire would mark the beginning of “the end of a very long, deadly and hard-fought war.” He added that both sides had begun negotiations to try to end the conflict, which he described as “the most significant since World War II.”
Bitcoin has tended to respond well to ceasefire news over the past month. The asset had fallen to $79,100 yesterday after being rejected at $83,000 mid-week, but it surged over $1,000 to now hit $80,000.
However, this increase of $1,000 is not as impressive as its evolution after the ceasefire between the United States and Iran. At the time, the cryptocurrency was trading at around $68,000 before climbing to $73,000 within minutes.
A few weeks later, Bitcoin saw another notable price rise after the ceasefire was extended, and most altcoins followed suit. Today, very few larger-cap alternative assets have seen substantial gains, such as SOL (5.5%) and ZEC (10%).
