Markets Rally as Ukraine Ceasefire Talks Show Progress; Bitcoin Rebounds Above $83K
A sudden shift in global sentiment sent risk assets surging Tuesday afternoon as Ukraine agreed to a U.S.-brokered proposal for a temporary 30-day ceasefire in its ongoing war with Russia.
While Russia has yet to officially respond, Ukrainian and U.S. officials released a joint statement following negotiations in Saudi Arabia, confirming that the agreement includes the resumption of American intelligence sharing and military aid to Kyiv.
U.S.-Canada Trade Tensions Cool
Investor confidence was further bolstered by signs of de-escalation in the U.S.-Canada trade dispute. Ontario Premier Doug Ford announced the suspension of a 25% surcharge on electricity exports to certain U.S. states.
The surcharge was initially introduced in response to President Trump’s decision to impose a 25% tariff on Canadian imports. Earlier on Tuesday, Trump threatened to double that tariff to 50%, specifically targeting steel and aluminum from Canada.
Equities and Crypto Surge
Following a turbulent morning, financial markets reversed course on the ceasefire news, with the Nasdaq climbing 1.25% and the S&P 500 rising 0.4%.
Cryptocurrencies also saw a strong recovery, with bitcoin (BTC) jumping 7% to trade at $83,300 after dipping as low as $76,000 overnight. Ether (ETH) rose 5.6%, while Solana (SOL) led major altcoins with a 10% gain.
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