On Tuesday night, the price of Bitcoin rebounded to around $83,568. This strong rebound was driven by the easing of global tensions and tariff policies. Earlier, the price of Bitcoin once fell below the $80,000 mark, reaching a low of $76,000, a new low in nearly three months.
According to reports, before this round of Bitcoin price rise, US President Trump announced new tariffs on Canadian steel and aluminum products. This statement once again raised concerns about the escalation of US-Canada trade frictions, which caused investor sentiment to come under pressure, but in a short time, the US government announced that it would revoke this decision. Both cryptocurrency and stock markets responded quickly to this, and their respective markets fluctuated violently, which restored the confidence of market investors in one fell swoop.
At the same time, under the leadership of the United States, the ceasefire agreement between Ukraine and Russia began in Saudi Arabia, and it was said that Russia and Ukraine might reach a ceasefire agreement within 30 days. Although the ceasefire agreement still needs to be formally approved by Russia, its announcement is still seen as an important step in promoting peace talks. The news helped boost financial markets across the board, and further boosted market confidence was the U.S. promise to resume intelligence sharing and military aid to Ukraine, which had been suspended after a tense meeting between Trump and Zelensky last month.
Investor sentiment improved rapidly as global geopolitical tensions eased. U.S. stock indexes rebounded from earlier losses, while the total cryptocurrency market value rose 5.5% to $2.7 trillion. Bitcoin prices rose 5.75% to re-enter the $83,000 mark, and Ethereum also rose 4.45%. The total cryptocurrency trading volume reached $148.16 billion that day, a daily increase of 7%.
