🇷🇺 🤝🏻 🇺🇸 Russia and the US: Opportunities for cooperation and impact on the cryptocurrency market
👉 Positive impact
Reducing political tensions: The planned summit between Russia and the US in Riyadh in February 2025 to discuss ending the war in Ukraine is a positive signal. If the relationship between the two countries becomes less tense, the demand for 'safe haven' assets like Bitcoin may decrease. However, this could help stabilize and foster growth in the cryptocurrency market.
Promoting digital financial cooperation: Russia has used cryptocurrencies such as Bitcoin, Ether, and Tether in oil transactions with China and India to evade sanctions. If the US and Russia can find common ground, the likelihood of cryptocurrencies being used more widely in international trade is very high.
👉 Negative impact
Decreased demand for cryptocurrencies: If sanctions are eased and Russia no longer needs to use cryptocurrencies to bypass restrictions, the demand for crypto transactions in international trade may decline.
Current developments in the cryptocurrency market
👉 Bitcoin (BTC)
Current price: Approximately $106,693, up 1.54% in the last 24 hours.
Short-term forecast: According to Polymarket, the likelihood of BTC reaching $110,000 by the end of May is about 38%.
👉 General market
Total market cap: Approximately $3.29 trillion, down 1.62% in the last 24 hours.
Trend: The market is slightly adjusting after a strong increase in April. If it surpasses the $3.14 trillion threshold, the recovery potential is quite high.
Conclusion
Signals of easing tensions between Russia and the US could reduce global political pressure – this may make the role of cryptocurrencies as a 'safe haven' less attractive. However, the crypto market still has many supporting drivers such as:
Cryptocurrency-friendly policies from the Trump administration, including the establishment of the Strategic Bitcoin Reserve Fund.
Major financial institutions continue to invest, with MicroStrategy recently purchasing an additional $765 million in Bitcoin.
The GENIUS bill is currently under review by the US Senate, which could pave the way for a clear regulatory framework for stablecoins.
Therefore, although the market may experience some short-term adjustments, the medium-term outlook remains optimistic.
Note: This is for informational purposes only and not investment advice. Please consult with a financial expert before making any decisions.
#crypto #BTC☀️ #Ethereum #Tether