Russian President Vladimir Putin announced a unilateral two-day ceasefire in the Russia-Ukraine conflict, running from May 7 to May 8, citing security concerns ahead of Victory Day celebrations. Ukraine accused Russia of violating the agreement with strikes on Kharkiv on May 8.
Crypto markets responded cautiously. Bitcoin rose 1.2% to $68,400, and Ethereum ticked up 0.8% to $3,200.
Blockchain-based prediction platform Polymarket reflects skepticism: odds of the ceasefire holding through June 30, 2026, dropped from 10% to 8.5% following the announcement. Informed bettors are pricing in continued conflict.
Ukraine has raised over $225 million in crypto donations for military aid since the conflict began. Russia has explored digital currencies to circumvent international sanctions.
The drop in Polymarket odds from 10% to 8.5% is directionally meaningful for investors, indicating low confidence in a lasting truce.