Bitcoin reached a price of $83 864 on Sunday following a statement by Donald Trump regarding an energy ceasefire between Russia and Ukraine. The announcement, posted on Truth Social, lacked specific terms, start times, or verification mechanisms. Neither Moscow nor Kyiv confirmed the agreement at the time of the report.
The market reaction triggered significant liquidations for traders betting against the asset. According to CoinGlass, $70 million in short positions were closed over a four-hour window. Bitcoin accounted for $22.29 million of these liquidations, with short positions representing 97.1% of that total. Long liquidations amounted to $6.9 million.
Energy markets remain a focal point as traders prepare for the reopening of oil futures in New York. West Texas Intermediate previously settled at $91.66 per barrel, while Brent crude closed at $104.42 per barrel. Previous market volatility in April saw oil prices exceed $110 per barrel amid broader geopolitical tensions.
Ukrainian President Volodymyr Zelensky stated the announcement was unexpected, noting he would accept a ceasefire if negotiated by Trump. Meanwhile, the European Union continues preparations for additional funding for Ukrainian drones and missiles. Kremlin officials previously indicated in October that they saw no basis for a sector-specific ceasefire.
