Is This the Reason Behind Bitcoin’s Recent Rise? There’s a Progress Related to the Ukraine-Russia War

Bitcoin (BTC) price reached $113,535 with the increase experienced during the day and gained 1.99% in the last 24 hours.

Immediately following this rise in the crypto market, there was a remarkable diplomatic development regarding the Russia-Ukraine war.

European countries are developing a 12-point peace proposal to end Russia’s war with Ukraine, based on existing front lines. The plan will be overseen by a peace committee to be formed under the chairmanship of US President Donald Trump.

The plan calls for Russia and Ukraine to agree to a ceasefire, halt territorial gains by both sides, and return exiled children to Ukraine. It also includes a prisoner exchange, security guarantees for Ukraine, and funding for post-war repairs.

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While sanctions against Russia are planned to be gradually lifted, approximately $300 billion in frozen reserves will be returned only if Moscow agrees to contribute to Ukraine’s reconstruction. If Russia attacks again, the sanctions will automatically be reinstated.

Last week, Trump called for a freeze on the war “at the current front lines,” saying, “Enough blood has been spilled. Everyone should stay put, go home, and stop killing.” The US president also announced that he would meet with Russian President Vladimir Putin in Budapest in the coming weeks.

Ukrainian President Volodymyr Zelenskyy, for his part, stated that Trump’s efforts were important in bringing peace closer, saying, “We are a little closer to ending this war. Trump has achieved many successes in the Middle East, and now he wants to use that momentum to end the Russia-Ukraine war.”

European Union leaders also backed calls for a ceasefire along existing lines and the resumption of peace talks. New sanctions against Russia and the use of frozen assets to benefit Ukraine will be on the agenda of Thursday’s summit in Brussels.

The Russian side has so far rejected offers to freeze the war along existing front lines. Kremlin spokesman Dmitry Peskov said, “We have a difficult period ahead, but preparations are being carried out seriously.”

*This is not investment advice.

 

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