Ukraine's sovereign debt enjoyed a solid run heading into late 2025, but momentum has stalled as fresh doubts creep in about the pace of peace negotiations. The uncertainty surrounding geopolitical developments is weighing on investor appetite—what looked like a bullish setup just weeks ago now feels fragile. This kind of sentiment swing is a reminder of how closely global financial markets track headlines beyond crypto. When risk-off moods take hold, it tends to ripple across all asset classes, including digital assets. Keep an eye on how these diplomatic developments unfold; they could shape market direction more than most realize.