FameEX Hot Topics | Bitcoin Surges 5.75% Amid Easing U.S. Trade Tensions and Ukraine Ceasefire Agreement

Bitcoin staged a strong rebound late Tuesday, surging to approximately $83,568 by 4 p.m. ET after briefly falling below the $80,000 mark earlier in the day. The sudden upswing was driven by two key geopolitical developments: Canada’s suspension of planned electricity tariffs on U.S. exports and Ukraine’s announcement of a 30-day ceasefire with Russia. Both moves were seen as signs of easing global tensions, boosting investor confidence across markets.

Throughout the trading session, both cryptocurrency and equity markets experienced notable volatility. Early in the day, former President Donald Trump added to trade-related uncertainty by announcing new tariffs on Canadian steel and aluminum imports. This reignited concerns over U.S.-Canada trade relations and temporarily weighed on market sentiment. However, Ontario Premier Doug Ford later eased fears by revealing that a proposed 25% surcharge on electricity exports to the U.S. would be paused.

Ford stated that the decision followed a “productive conversation” with U.S. Secretary of Commerce Howard Lutnick. Both officials agreed to meet in Washington on March 13 to discuss potential revisions to the United States-Mexico-Canada Agreement (USMCA) before a key tariff deadline on April 2. Meanwhile, on the international stage, progress in Middle Eastern diplomacy added fuel to the market’s recovery. A ceasefire agreement between Ukraine and Russia, brokered during U.S.-led negotiations in Saudi Arabia, gave further support to global markets.

The 30-day ceasefire, which still requires formal approval from Russia, is being viewed as a critical step toward longer-term peace talks. In addition, the U.S. pledged to lift restrictions on intelligence sharing and military aid to Ukraine, which had been frozen following a tense meeting last month between Trump and Ukrainian President Volodymyr Zelenskyy.

With geopolitical tensions easing, investor sentiment turned bullish. U.S. stock indices recovered earlier losses, and the total cryptocurrency market cap surged to $2.7 trillion—up 5.5% in 24 hours. Bitcoin gained 5.75%, rebounding above $83,000, while Ethereum climbed 4.45%. Daily crypto trading volume jumped to $148.16 billion, marking a 7% rise.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.