FameEX Hot Topics | Bitcoin Soars 5.75% Amid Geopolitical Easing and Trade Optimism

Bitcoin staged a powerful rebound late Tuesday, climbing to around $83,568 by 4 p.m. ET after briefly dipping below the $80,000 threshold earlier in the day. The sharp turnaround was largely fueled by two major geopolitical developments: Canada’s decision to suspend proposed electricity tariffs on U.S. exports and Ukraine’s announcement of a 30-day ceasefire with Russia. These moves were widely interpreted as signs of easing global tensions, prompting renewed optimism in financial markets.

Markets had been volatile throughout the day, with both cryptocurrencies and equities reacting to shifting geopolitical headlines. Earlier, former President Donald Trump introduced new tariffs on Canadian steel and aluminum, reigniting fears of escalating trade friction with Canada. This initially weighed on investor sentiment. However, reassurance came when Ontario Premier Doug Ford announced that the province would pause a proposed 25% surcharge on electricity exports to the U.S., helping restore confidence.

Ford attributed the pause to a “productive conversation” with U.S. Secretary of Commerce Howard Lutnick. The two agreed to meet in Washington on March 13 to explore revisions to the United States-Mexico-Canada Agreement (USMCA) ahead of an April 2 tariff deadline. In a parallel development, diplomacy in the Middle East also took a promising turn. A ceasefire agreement between Ukraine and Russia—brokered during U.S.-led negotiations in Saudi Arabia—helped drive the global market recovery.

Though the ceasefire still awaits formal approval from Russia, its announcement is being seen as a crucial step toward potential peace negotiations. Adding to the momentum, the U.S. vowed to resume intelligence sharing and military support to Ukraine—assistance that had been paused after last month’s tense Trump-Zelenskyy meeting.

As tensions eased, investor sentiment improved rapidly. U.S. stock indices bounced back from earlier losses, while the total cryptocurrency market cap rose 5.5% to $2.7 trillion. Bitcoin surged 5.75% to reclaim the $83,000 level, and Ethereum followed with a 4.45% gain. Daily crypto trading volume spiked to $148.16 billion, up 7% on the day.

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