Investing.com-- Bitcoin remained muted on Thursday, steadying after a broader rise in risk-driven markets as U.S. President Donald Trump talked up the prospect of a peace treaty between Russia and Ukraine.
The flat price performance comes amid concerns over sticky U.S. inflation, especially following a hotter-than-expected consumer inflation reading. Bitcoin had slid below $95,000 in the wake of the reading.
The world’s biggest cryptocurrency slipped 0.2% to $95,768.0 by 10:11 ET (15:11 GMT).
Crypto buoyed by Russia-Ukraine peace talk
Broader crypto markets tracked a broader uptrend in risk-driven markets as Trump said both Russian President Vladimir Putin and Ukraine President Volodymyr Zelenskiy had expressed hopes for peace in separate calls with the U.S. President.
Trump also said he had instructed top U.S. officials to begin peace talks. Reports said that China had offered to host the peace summit.
The news ramped up hopes that the nearly three-year-long conflict- which had rattled global markets and sparked a European energy crisis- was now coming to an end.
Stock markets in Asian rallied on the news, while U.S. stock index futures also advanced.
Goldman Sachs increases Bitcoin, Ether ETF holdings
Wall Street major Goldman Sachs Group Inc (NYSE:GS) increased its holdings of Bitcoin and Ether exchange-traded funds in the fourth quarter of 2024, filings showed on Wednesday.
The bank raised its Ether ETF holdings by 2000% in the fourth quarter to $476 million.
For Bitcoin, GS raised its ETF portfolio by 114% to a total value of $1.52 billion.
The move came amid increased optimism over friendlier crypto regulations under Trump- a trend that catapulted Bitcoin to record highs.
Trump signed a flurry of executive orders, including some aimed at establishing a regulatory framework for crypto.
Coinbase (NASDAQ:COIN) eyeing India relaunch
In other crypto developments, Coinbase is making another attempt to re-enter the Indian market after being forced to halt operations over a year ago, TechCrunch reported on Thursday, citing people familiar with the matter.
The exchange is in discussions with Indian regulators, including the Financial Intelligence Unit, to secure the necessary approvals for a relaunch.
Coinbase reportedly plans to bring back its centralized exchange platform, aiming to compete with local players like CoinDCX and CoinSwitch.
Coinbase’s efforts to re-enter India come after a rocky history in the region. Binance, the world’s largest crypto exchange, resumed operations in India last August after registering with the FIU following a seven-month regulatory halt, setting a precedent for foreign crypto exchanges looking to operate in the country.
Crypto price today: altcoins slightly higher, but CPI, tariffs limit gains
Broader crypto prices outperformed Bitcoin on Thursday, although bigger gains were held back by concerns over sticky inflation and higher trade tariffs.
World no.2 crypto Ether added over 2% to $2,631.58, while XRP rose 2% to $2.42.
Solana fell 0.7%, while Cardano and Polygon rose 1.5% and 2.8%, respectively.
Among memecoins, Dogecoin added 1.8%, while $TRUMP jumped 11.7%.
Still, bigger gains in crypto were hampered by concerns over sticky inflation, especially after hotter-than-expected consumer price index inflation data released overnight. The data was followed by testimony from Federal Reserve Chair Jerome Powell that the central bank will delay cutting interest rates due to concerns over sticky inflation.
Crypto was also battered by diminishing risk appetite this week, after Trump imposed steep trade tariffs on metal imports, and threatened more tariff action.
Ambar Warrick contributed to this report.