Bitcoin has recovered to the $83,000 mark amid expectations of a ceasefire in the energy sector between Russia and Ukraine. Major altcoins also experienced a surge.
According to CoinMarketCap, as of 8 a.m. on October 12, Bitcoin was trading at $83,554, up 0.65% from the previous day.
Ethereum rose 1.05% to $2,534. Ripple (XRP) increased by 0.33% to $1.40, while Solana traded at $111.02, up 0.57%. Binance Coin (BNB) also saw a 0.27% rise to $752.67.
Bitcoin had been fluctuating around the $82,000 level until news of a ceasefire between Russia and Ukraine broke around 11:30 p.m. the previous day, prompting a rebound to the $83,000 range.
On October 11, U.S. President Donald Trump announced via social media platform Truth Social that Russia and Ukraine had agreed to a ceasefire, halting attacks on energy facilities.
Trump claimed the ceasefire would take effect immediately and that both sides had agreed to it. However, he did not disclose specific details regarding its scope or duration.
The actual establishment of the ceasefire remains uncertain. Ukrainian President Volodymyr Zelensky told Axios, "This is the first I’m hearing of it," but added that if Russia agrees to an energy ceasefire, Ukraine would also agree. The official stance from Russia has yet to be confirmed.
The CoinMarketCap 'Fear and Greed Index,' which reflects market sentiment, recorded a neutral level of 58.
In the domestic market, Bitcoin also saw an increase. As of 8 a.m. on the same day, Bitcoin was trading at 11.34 million won on Bithumb, up 0.43% from the previous day. The 'Kimchi Premium,' which indicates the price difference between domestic and international markets, was recorded at 1.11%.
* This article has been translated by AI.
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