In the last 24 hours, tensions have heightened due to new statements from Trump, negatively affecting cryptocurrency markets. The macroeconomic outlook had worsened with last week’s data, compounded by threats of a 35% tax on the EU. Now, Russia is preparing a new move that could potentially uplift cryptocurrencies.
Russia and Cryptocurrencies
Trump announced last week that he would implement secondary tariffs if Russia fails to act by Thursday. This implies Russia may not be able to sell oil, as clients, including China, have been threatened with a 100% tax. This situation is one of the reasons for the ongoing negativity in cryptocurrency markets, fueling short-term bearish tendencies.
Sources indicate that Russia is evaluating a ceasefire offer. If Trump achieves his objectives, the following scenarios could unfold:
- The ongoing crypto decline aggravated by secondary tariffs could reverse.
- The inflation concerns exacerbated by tariffs on oil would stabilize.
- Hope for the war’s end would enhance risk appetite.
As a result, cryptocurrencies could see an upward trend. Despite Russia’s resolve to continue the war, the Kremlin is exploring concession options like an aerial ceasefire due to secondary tariffs pressure.
“According to sources who wish to remain anonymous due to the sensitivity of the situation, officials are considering Steve Witkoff’s visit to Russia this week as a final opportunity for an agreement with Trump, albeit with low success chances. One source mentioned that if Ukraine signs the agreement, a proposal to halt drone and missile airstrikes to reduce tensions would be discussed.”
BTC is testing the key support level of $112,500 due to unresolved issues and concerns about Thursday’s developments.
