Bitcoin Steady at $118K Despite Failed Trump-Putin Talks
Bitcoin held steady near $118,000 as traders anticipated volatility from the first Trump-Putin peace talks. The meeting yielded no ceasefire agreement on Ukraine, with Trump noting some progress and Putin calling it a “starting point.” Ukraine’s absence drew criticism from President Zelenskyy. Despite concerns, Bitcoin’s price dipped briefly below $117,000 but rebounded to around $118,000, showing resilience. The market reacted more to hotter-than-expected US Producer Price Index data, which had driven Bitcoin down from its all-time high of $124,500 to under $118,000. Crypto traders should monitor macroeconomic indicators alongside geopolitical developments.
Neutral
In commodity markets, geopolitical events often trigger short-term fluctuations, but Bitcoin’s muted response to the failed Trump-Putin meeting indicates low sensitivity to this specific development. Historically, BTC has responded more strongly to macroeconomic data than isolated diplomatic talks. The recent PPI report drove larger moves. In the short term, Bitcoin’s stability suggests traders prioritize economic indicators over geopolitical headlines. Over the long term, improved US-Russia relations could reduce safe-haven demand, but crypto fundamentals and monetary policy will remain the primary drivers. Overall, the impact is neutral, with market direction dictated by economic data.