Ukraine Ceasefire Deal Lifts Markets; Bitcoin Surges Back Above $83K

A potential breakthrough in the Ukraine-Russia conflict sent financial markets surging on Tuesday after Ukraine agreed to a U.S.-brokered proposal for a 30-day ceasefire.

While Russia has yet to confirm its participation, a joint statement from U.S. and Ukrainian officials indicated that the deal would involve the immediate resumption of U.S. intelligence sharing and military assistance to Kyiv. The negotiations took place in Saudi Arabia, where both sides engaged in high-level talks.

U.S. and Canada De-Escalate Trade Dispute

Adding to the positive sentiment, trade relations between the U.S. and Canada showed signs of improvement. Ontario Premier Doug Ford announced the suspension of a 25% electricity export surcharge imposed on select U.S. states.

This measure was initially enacted in retaliation to President Trump’s recent 25% tariffs on Canadian imports. Trump had earlier threatened to escalate the trade battle further by imposing a 50% tariff on Canadian steel and aluminum.

Markets and Crypto See Strong Gains

The ceasefire news fueled a sharp reversal in risk assets, with the Nasdaq rebounding 1.25% and the S&P 500 rising 0.4% after a rough morning session.

Crypto markets also reacted positively, with bitcoin (BTC) soaring 7% in the past 24 hours to trade at $83,300, recovering from an overnight low of $76,000. Ether (ETH) climbed 5.6%, while Solana (SOL) jumped 10%, leading the altcoin rally.