🚨 Crypto Markets Eye Upside as India and Pakistan Confirm Ceasefire 📈
After a tense week filled with skirmishes, India and Pakistan agreed to a ceasefire today at 5 pm local time.
The ceasefire announcement is likely to be met with relief in financial markets, which were fearing an escalation of the third major conflict in recent times.
Crypto markets are also likely to sustain the bullish momentum amid such favorable macroeconomic factors.
On April 22, five terrorists targeted tourists in the Pahalgam region of Kashmir, killing 25 Indians and one Nepali citizen.
Soon after, India took several non-military measures, including the suspension of the Indus Waters Treaty.
On May 6, India launched precision missile strikes at nine locations across Pakistan, targeting its ‘terror infrastructure’.
Following the attack, the Bitcoin price sharply dropped below $97,000 as investors feared further escalation.
However, the markets rebounded quickly as India continued to stress that its actions were non-escalatory in nature.
Further, as the US-China trade tensions eased, Bitcoin rallied to reach $104k during the early hours on Saturday.
