Why the plea matters for markets
India isn't a neutral observer in this conflict. As a major buyer of Russian oil and a member of the BRICS bloc, its public pressure on Moscow signals growing international isolation for Putin. For crypto, the connection is indirect but real. A de-escalation in Ukraine would likely pull oil prices down, easing inflation expectations and giving central banks more room to slow rate hikes. That's the kind of macro tailwind that has historically supported risk assets like Bitcoin. But the market is in a slight pullback right now, and this news alone isn't enough to reverse the trend. Traders will be watching oil futures and global equities for any follow-through. If Putin signals willingness to negotiate, expect a short-term bounce. If he dismisses the plea, risk-off sentiment could deepen.
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India's crypto policy under the microscope
India's crypto regime is among the harshest in the world. The government has imposed a 30% tax on crypto income and a
