- Bitcoin soared 7% to $83K as Ukraine accepted a ceasefire, but investor caution remains as Russia has yet to sign.
- Crypto markets rallied, with Ethereum up 4.49%, Solana surging 6.55%, and meme coins like Dogecoin gaining 7.06%.
- Bitcoin’s past shows resilience, often rebounding within 50 days after conflicts, proving its role as a geopolitical hedge.
According to Satoshi Club, Bitcoin saw a dramatic 7% surge to $83,000 following Ukraine’s acceptance of a 30-day ceasefire. The news was welcome by the market, with equity options also turning green following the initial losses. However, Russia has yet to sign, so investors remain cautious. If tensions remain to ease up, Bitcoin might keep surging.
Market Overview: Positive Momentum Across Cryptocurrencies
As per the data, other major cryptocurrencies posted gains. Ethereum (ETH) climbed 4.49% to $1,951, while Solana (SOL) rose 6.55% to $127.62. Cardano (ADA) advanced by 6.33%, reaching $0.730, and Binance Coin (BNB) saw a 3.66% increase to $554.66. XRP also surged by 6.28%, hitting $2.20.
Contrary to the terms, Tron (TRX) recorded a fall of 1.53% to $0.226. Meme tokens like Dogecoin (DOGE) rose by 7.06% to $0.168, while Shiba Inu (SHIB) was seen posting an advance of 3.89%. Blockchain infrastructure tokens include Chainlink, which have increased by 6.56% to $15.60. The centralized finance token rose by 1.76%, while Uniswap (UNI), coming from the decentralized finance space, increased by 3.79%. The market is generally bullish, with most assets trending higher.
Bitcoin’s Historical Reactions to Global Conflicts
Bitcoin has behaved in a variety of ways amid international wars. Bitcoin dropped below $35,000 after the first Russian invasion of Ukraine in February 2022. Moreover, studies show that for every 1% increase in conflict intensity, trading volumes generally decrease by 0.2%. Nonetheless, prices often rise again in 50 days, proving how resilient Bitcoin is.
In a similar vein, Bitcoin first fell in October 2023 amid the Israel-Gaza conflict. However, cryptocurrencies frequently serve as safe-haven investments, generating profits prior to geopolitical developments.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
