Crypto Market Reacts Before Trump's Russia-Ukraine Ceasefire Claim

Market Reaction to Trump's Ceasefire Claim

Bitcoin rose to $83,864 after President Donald Trump declared an immediate energy ceasefire between Russia and Ukraine. However, neither Moscow nor Kyiv confirmed the deal. Oil futures have been closed since Friday, and traders will test the claim on Sunday evening.

Background on Trump's Claim

Trump wrote on Truth Social that both sides had agreed and warned traders not to break it. He gave no terms, start time, or way to check compliance. The White House also tweeted about the announcement, but neither side has confirmed the deal.

Crypto Market Impact

Crypto markets moved ahead of the announcement, with $70 million in short bets wiped out, while long liquidations totaled only $6.9 million. CoinGlass data showed that shorts made up 97.1% of the $22.29 million liquidated on Bitcoin in that window.

Oil Market Impact

Oil futures have been closed since Friday, and traders will test the claim on Sunday evening. The West Texas Intermediate (WTI) benchmark and Brent, the global benchmark, closed at $91.66 and $104.42, respectively. The war with Iran has already pushed fuel prices higher, as BeInCrypto tracked when oil passed $110 in April.

European Response

Ukrainian President Volodymyr Zelensky said the announcement was 'news for me.' He then set out his terms, stating that he wanted to know when the ceasefire begins and if President Trump negotiated it with Putin. The EU is preparing additional funding for Ukrainian drones and missiles, even as Zelensky mulls a possible ceasefire on energy infrastructure.