The global financial markets, including cryptocurrencies, are experiencing a positive boost after a phone call between President Trump and Russian President Putin. Trump described the meeting as “a highly productive phone call,” fueling hopes for a resolution to the conflict in Ukraine.

After slumping to just above $94,000 earlier Wednesday following far stronger than expected U.S. inflation data, bitcoin (BTC) has reversed higher, climbing to $97,500.

Not only Bitcoin but also other top 10 cryptocurrencies have seen a strong recovery. Notably, BNB – the token of Binance exchange – led the surge with a 13% increase in the past 24 hours.