Bitcoin Soars as Trump Announces Strategic Crypto Reserve

European leaders push for Ukraine peace plan while U.S. tariff decisions loom, impacting global markets.

Bitcoin surged over 11% to nearly $95,000 after President Trump revealed plans to include it in a new U.S. strategic cryptocurrency reserve alongside ether, XRP, solana, and cardano.
The euro and sterling gained value as European leaders prepared a Ukraine peace proposal to present to the U.S., following tensions between Trump and Zelenskiy.
U.S. Commerce Secretary Howard Lutnick suggested tariffs on Canada and Mexico may be less than the planned 25%, while additional 10% tariffs on Chinese imports are set to take effect this week.
Asian markets showed mixed reactions, with Japan's Nikkei rising 1.1% and Bitcoin's rally boosting cryptocurrency sentiment globally.
European defense stocks, including BAE Systems and Rheinmetall, saw gains as the region's leaders pledged increased defense spending in response to geopolitical tensions.