US stocks and crypto markets rose after President Donald Trump unveiled a preliminary Greenland framework deal in Davos.
Trump said the framework would pause planned tariffs and lay groundwork for future cooperation in the Arctic region.
“We have formed the framework of a future deal with respect to Greenland and the entire Arctic Region,”
Donald Trump said.
He added that the agreement would delay tariffs scheduled to take effect in February.
Markets reacted positively following volatility earlier in the week.
The Dow Jones Industrial Average surged, while the S&P 500 and Nasdaq Composite also closed higher.
Crypto markets outperformed as investor sentiment improved following the tariff pause.
Bitcoin rebounded from an intraday low near $87,193 and moved back above $88,000.
The total crypto market capitalisation climbed back above the $3 trillion mark.
Traders linked the rally to easing geopolitical tensions and renewed risk appetite.
Market participants remain cautious over whether the optimism will persist.
At the time of reporting, Bitcoin price was $90,239.24.