Bitcoin (BTC) rose to $84,000 on Sunday after President Donald Trump declared an immediate energy ceasefire between Russia and Ukraine. Neither Moscow nor Kyiv confirmed the deal.
Oil futures have been closed since Friday. When they reopen Sunday evening in New York, energy traders get their first chance to price a truce that rests on a single post.
Why Crypto Short Sellers Paid for Trump’s Post
Trump wrote on Truth Social that both sides had agreed and warned them not to break it. He gave no terms, start time, or way to check compliance.
Crypto markets moved anyway. Both Bitcoin and Ethereum prices rose in the immediate aftermath of the news, albeit modest gains.
The rise hit traders betting on a fall. A liquidation happens when an exchange force-closes a borrowed bet that has lost too much.
CoinGlass data showed $70 million in short bets wiped out over four hours. Long liquidations totaled only $6.9 million.
Shorts made up 97.1% of the $22.29 million liquidated on Bitcoin in that window. The reaction contrasts with June, when BTC barely moved on the Senate’s Iran vote.
Ukraine Learned of the Truce From Trump
Ukrainian President Volodymyr Zelensky said the announcement was “news for me.” He then set out his terms.
“If President Trump negotiated it with Putin, please tell us when the ceasefire begins. We are ready, and we will accept it,” Axios reported, citing Zelensky.
Still, it is important to note that the EU is preparing additional funding for Ukrainian drones and missiles, even as Zelensky mulls a possible ceasefire on energy infrastructure.
Moscow had not commented by press time. On October 8, Kremlin spokesperson Dmitry Peskov said Russia saw no point in a sector-only ceasefire, reported the Kyiv Independent.
Trump made a similar claim in September. Neither side confirmed it, and both kept striking energy sites.
What the Oil Open Will Reveal
West Texas Intermediate (WTI), the US crude benchmark, last settled at $91.66 a barrel. Brent, the global benchmark, closed at $104.42.
The war with Iran has already pushed fuel prices higher, as BeInCrypto tracked when oil passed $110 in April. Trump has since eased sanctions on Russian diesel exports and pressed Kyiv to stop hitting Russian refineries.
Bitcoin has already voted on the ceasefire. Oil, the market most exposed to it, votes next.
