Ukraine has agreed to a 30-day ceasefire with Russia following a proposal from the United States. The announcement comes after the U.S. pledged to resume military assistance and intelligence sharing with Ukraine, which had been previously paused.
This diplomatic breakthrough coincides with a notable recovery in the cryptocurrency market. Bitcoin has surged by 5%, while Ethereum has seen a 4% increase, contributing to a broader market rally that saw an overall rise of 4.59%.
Market experts attribute the positive market response to the reduction in geopolitical uncertainty, which has restored confidence among investors. The ceasefire is seen as a step towards stability, sparking renewed interest in digital assets.
In a joint statement released on Tuesday, Ukraine and the United States confirmed the temporary ceasefire. The White House announced it would resume security aid to Ukraine and continue sharing intelligence, which had been suspended earlier.
The ceasefire, initially proposed by the U.S., is set to last for 30 days but may be extended based on mutual agreement between Ukraine and Russia. However, the agreement hinges on Russia’s acceptance.
“The United States will convey to Russia that its willingness to reciprocate is crucial for achieving lasting peace,” the statement read.
Ukrainian President Volodymyr Zelensky, who had initially suggested limiting the ceasefire to specific military operations, expressed support for the broader scope proposed by the U.S. He emphasized the importance of convincing Russia to engage in this process.
The discussions took place during a meeting in Saudi Arabia, which included key U.S. officials such as Secretary of State Marco Rubio, National Security Advisor Mike Waltz, and Andriy Yermak, the chief of staff to President Zelensky.
Following the meeting, Secretary Rubio remarked that the U.S. had formally presented the ceasefire proposal to Ukraine, which accepted the terms. He added, “The ball is now in Russia’s court,” signaling that it is up to Moscow to decide whether to join the talks.
As the geopolitical landscape remains uncertain, both the ceasefire and the crypto market’s recovery reflect shifting investor sentiment, with hopes for de-escalation driving optimism in global markets.
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