Ukraine Ceasefire Sparks Market Optimism; Bitcoin Climbs Past $83K

Ukraine Ceasefire Agreement Sparks Market Turnaround; Bitcoin Reclaims $83K

Markets saw a dramatic reversal on Tuesday afternoon after Ukraine agreed to a U.S.-led proposal for a temporary 30-day ceasefire in its ongoing conflict with Russia.

The deal, which still requires Russia’s approval, was announced in a joint statement by Ukraine and U.S. officials following diplomatic discussions in Saudi Arabia. The agreement includes an immediate resumption of U.S. intelligence sharing and military aid to Ukraine.

U.S.-Canada Trade Dispute Cools

Investor confidence was further boosted by signs of easing trade tensions between the U.S. and Canada. Ontario Premier Doug Ford confirmed the suspension of a 25% electricity export surcharge on certain U.S. states.

The surcharge had been a response to President Trump’s 25% tariffs on Canadian imports. Earlier in the day, Trump had threatened to escalate the dispute by doubling the tariff to 50% on steel and aluminum.

Stocks and Crypto Bounce Back

Following sharp losses earlier in the session, U.S. equities rebounded, with the Nasdaq climbing 1.25% and the S&P 500 rising 0.4%.

Cryptocurrencies also saw a strong recovery, with bitcoin (BTC) rallying 7% in the past 24 hours to reclaim $83,300 after dipping to $76,000 overnight. Ether (ETH) gained 5.6%, while Solana (SOL) surged 10%, leading the altcoin recovery.