Cryptocurrencies could be poised for a massive price recovery as President Donald Trump prepares to speak with Russian President Vladimir Putin about a potential Ukraine peace deal. With geopolitical tensions influencing investor sentiment, crypto price movements could see significant volatility. Will a breakthrough in negotiations spark a bullish surge, or will uncertainty keep prices fluctuating?
Cryptocurrencies Price in Focus Ahead of Trump-Putin Talks on Ukraine
According to Bloomberg, President Trump is scheduled to speak with Putin on Tuesday and has expressed optimism about a possible resolution to the Russia-Ukraine war. He stated there is a “very good chance” of reaching a positive outcome.
However, White House officials, including National Security Adviser Mike Waltz, have acknowledged major hurdles in achieving a ceasefire.
Geopolitical uncertainty often weakens the price of risk assets like cryptocurrencies and stocks. Therefore, if there is a breakthrough in the matter, it could be bullish for Bitcoin and altcoins.
At press time, traders appear skeptical of a peaceful resolution to the war. The Nasdaq and S&P 500 futures have declined as analysts flip bearish on the US stock market. Bitcoin price has also dropped slightly by 1.3% to around $83,600.
Russia-Ukraine Deal is Bad for US Dollar But Good For Crypto
The end of the Russia-Ukraine war may be bad for the US dollar, which is already underperforming against other major currencies due to Trump’s tariff war. However, a weaker US dollar will be good for cryptocurrencies price as traders seek out other safe havens.
Trump’s tariff war has stirred economic uncertainty and reduced reliance on the dollar. Meanwhile, the possibility of the end of the Russia-Ukraine war has boosted the price of European currencies, leading to the US dollar index falling to a five-month low.
US Dollar Index
If investors anticipate a short-term weakening of the US dollar, it may lead to capital rotation into cryptocurrencies as traders hedge against currency devaluation, leading to higher price moves.
Will Trump-Putin Meeting Push Bitcoin Price to $90,000?
Bitcoin price trades at $83,065 today with a marginal 0.5% increase in 24 hours. BTC is at a pivotal point where a breakout from a symmetrical triangle pattern on the four-hour price chart will determine the next move.
Crypto analyst Carl Moon notes that if BTC breaks above the upper trendline of this triangle, it could trigger a bullish Bitcoin price prediction and a 12% rally toward $94,000. This rally could be supported by a successful outcome from Tuesday’s meeting, leading to price gains across the cryptocurrencies market.
Conversely, if this uptrend fails and BTC price drops, it will result in another downtrend, possibly to the $72,000 price level.
BTC/USDT: 4-Hour Chart
Besides the bullish technical outlook, whales also seem to be accumulating BTC. This follows the recent purchase of $10M Bitcoin by MicroStrategy. This suggests whale positioning ahead of the Trump-Putin meeting.
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