- President Trump will host several European leaders possibly to extend global peace and economic cooperation.
- The outcome of Monday’s White House meeting will have implications for the wider crypto market.
- High-impact news amid a potential short squeeze may result in a sudden crypto rebound.
President Donald Trump is calling today a “big day” at the White House, and for good reason. He’s hosting Ukrainian President Volodymyr Zelenskyy and a slate of top European leaders for a high-stakes meeting aimed at ending the war with Russia.
The guest list for these crucial peace talks is a who’s who of Western leadership, including the EU Commission President, the leaders of France, the UK, Germany, and Italy, and the head of NATO. This summit follows last week’s direct meeting between President Trump and Russian President Vladimir Putin.
President Trump Pushes for Lasting Ceasefire Between Russia and Ukraine
Notably, President Trump has highlighted that Russia’s conflict with Ukraine can be ended immediately by President Zelenskyy. However, President Zelenskyy has blamed the Russian counterpart for acting in bad faith amid the peace talks.
“I am grateful to the President of the United States for the invitation. We all equally want to end this war swiftly and reliably. Russia must end this war, the war it started. And I hope that our shared strength with America and with our European friends will compel Russia to real peace,” Zelenskiy said on Sunday.
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What’s the Expected Impact of Today’s White House Peace Talks on Crypto
The ongoing peace talks led by President Trump will have a palpable impact on the wider crypto market. After President Trump helped achieve peace between several conflicting nations since the beginning of this year, a lasting solution is likely to happen between Russia and Ukraine soon.
The closure of hostilities between Russia and Ukraine will further fuel the ongoing crypto bull market. Moreover, economic prosperity is the end result of lasting peace, especially between the Western and the Eastern modern economic systems.
However, a failed peace deal between Russia and Ukraine will continue hostilities and potentially cause further crypto correction. Moreover, more days of sustained wars often lead to higher inflation, which precedes interest rate hikes.
Market Picture
Heading into the summit, the crypto market is showing signs of nervousness. The last 24 hours have seen over $447 million in liquidations of bullish long traders.
The cumulative Ethereum (ETH) shorts surged to a record high, which signals a potential short squeeze if a bullish rebound happens in the coming days towards a new all-time high.
The wider crypto market has recorded heightened demand from retail FOMO (fear of missing out) traders.
How risky is it? This level of leverage in the ETH market is a hot topic. Here’s our report on the risks of holding Ethereum at these levels.
In the coming days, the crypto market will experience heightened volatility fueled by high-impact news including FOMC Meeting minutes, U.S. unemployment claims, and Friday’s speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.
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Source: https://coinedition.com/trump-white-house-peace-summit-crypto-market-impact/