Over the past few hours, a significant downturn has started to manifest, hinting at upcoming turbulence within the next 24 hours. Investors, particularly in altcoins, have begun to mitigate risks. U.S. Treasury Secretary Bessent has openly indicated that a major announcement will coincide with the market closure.
Plummeting Cryptocurrency Values
Bitcoin is currently trading at $107,600, amid anticipations of a meeting between Trump and Xi in South Korea. Meanwhile, U.S. Secretary of State Rubio is set to visit Japan and South Korea from October 26-30. The last 24 hours have witnessed new threats of sanctions against China, constructive negotiation statements, and heightened complexities.
In the next 24 hours, severe sanctions against Russia are anticipated. Leaks suggesting potential unprecedented sanctions by the EU have emerged, alongside Bessent’s declaration of imminent sanctions to be announced around or after the weekly market closure.
“Either after market closure today or early tomorrow, a significant increase in Russia sanctions will be announced.”
“President Putin hasn’t come to the table with honesty and clarity as expected. The sanctions we are about to announce will be among the largest imposed on Russia thus far.”
Thus, by the close of the market tomorrow, likely by 4:30 PM on Friday, the U.S. may unveil an unparalleled series of sanctions against Russia, with the EU potentially following suit. Cryptocurrencies are expected to react unfavorably to this atmosphere.
Intensifying Conflict
Today, Trump responded to a WSJ report about the U.S. permitting Ukraine to employ long-range missiles. He wrote:
“The Wall Street Journal’s report on the U.S. allowing Ukraine to use long-range missiles deep into Russia’s territory is FAKE NEWS! The U.S. has no involvement with these missiles, their origins, or their use by Ukraine!”
While this appears to be a denial, it essentially confirms the situation. It implies that Ukraine could openly strike deeper into Russia’s core with its arsenal. Should Russia resist negotiations, it may be time to pressure them, urged by Trump’s initiative. Geopolitical risks suggest challenging hours ahead.