U.S. stocks plummeted on Monday, dragging down the cryptocurrency market and causing Bitcoin to briefly dip below $77,000 yesterday morning. However, following high-level talks between the U.S. and Ukraine, Ukraine announced just after 2 PM today that it would immediately implement a 30-day ceasefire plan, provided that Russia accepts it. The U.S. also announced that it would lift intelligence restrictions and resume security assistance to Ukraine.

On another front, after Ontario, Canada, suspended the 25% retaliatory surcharge on U.S. electricity exports, Trump also announced a halt to the retaliatory 50% tariffs on Canadian steel and aluminum products. Officials from both sides have confirmed that they will renegotiate the U.S.-Mexico-Canada trade agreement this week.

The aforementioned positive news alleviated market concerns, and Bitcoin successfully broke through $83,000, recovering from yesterday's rapid decline.

Altcoin Market Rebound

As of press time, Ethereum is tentatively priced at $1,895, up 1.9% in the past 24 hours. Among the other top ten cryptocurrencies, XRP saw the largest gain at 7.7%, and Dogecoin (DOGE) also rose by 5.7%. The only one declining was TRX, which slightly decreased by 2.7% in the last 24 hours.

$382 Million Liquidated Across the Network in 24 Hours, Market Sentiment Recovers to "Fear"

According to Coinglass data, $382 million was liquidated across the network in the past 24 hours, with short positions accounting for $250 million and over 104,000 traders liquidated.

Additionally, based on Alternative’s Fear & Greed Index, market sentiment has slightly recovered from an "extreme fear" score of 24 to a "fear" score of 34.

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