Bitcoin Oil prices rose on Monday as hopes of a peace deal between Russia and Ukraine faded.
BTC, the leading cryptocurrency by market capitalization, gained more than 2% and traded above $90,000, cheering the broader market. Main alternative to cryptocurrencies such as Ethereum , and Solana That’s up 3% or more, according to data source CoinDesk.
In traditional markets, West Texas Intermediate (WTI) crude oil prices rose 1% to $57.24 a barrel. Brent crude oil rose 0.80% to $60.81 a barrel. Asian stock markets traded cautiously as the year-end holidays led to thin trading volumes and market liquidity. South Korea’s KOSPI was the exception, rising 1.7% on gains in chipmaker shares.
On Sunday, Russia attacked the Kherson combined heat and power plant in Naftogaz, causing significant damage to infrastructure that is a vital source of heating for tens of thousands of residents. At the same time, Ukraine attacked the Syzlan refinery in Russia’s Samara region, damaging the refinery’s only primary oil processing unit.
The actions have dampened Russia’s hopes of reaching a peace deal with Ukraine, even as U.S. President Donald Trump and Ukrainian President Volodymyr Zelensky said there was progress on the 20-point peace plan. The war between Russia and Ukraine has been going on for nearly four years, fueling inflation in the global economy.