Bitcoin held steady near $71,000 on Wednesday as traders await clear signals from the latest developments in US-Iran peace talks. Iran has launched new strikes on Israel and the US bases in the Middle East after President Donald Trump approved new military deployments.
Gold and oil prices are fluctuating today amid a mix of positive and negative news related to the US-Iran war. Meanwhile, Israel has struck a Russian-Iranian weapons supply line, raising concerns over potential escalations.
Bitcoin Stable as Iran Launches Fresh Strikes amid Stalled Peace Talks
As global leaders urge a ceasefire in the US-Iran war, the conflicts show little sign of easing. Bitcoin held steady above $71,000 as the US-Israel and Iran continued airstrikes on Wednesday, even as Trump claimed progress in peace talks.
Latest reports revealed Iranian forces carried out new missile and drone strikes targeting Israel’s infrastructure and U.S. bases across the Gulf region, including drone attacks in Saudi Arabia.
Iran officials told mediators that President Trump has tricked them twice and “we don’t want to be fooled again,” Axios reported on March 25. They added that Trump authorized surprise attacks on Iran’s energy facilities despite a 5-day pause.
Iran tells the US it does not want to hold peace talks with US envoys Steve Witkoff and Jared Kushner and prefers negotiating with Vice President JD Vance instead.
Trump Approves New Military Deployment amid Ceasefire Proposal
These developments came despite Trump’s announcement of a 15-point plan mediated via Pakistan and expressed optimism for a ceasefire. The major negotiations in the plan are related to nuclear weapons and infrastructure, ballistic missiles, sanctions on Iran, and keeping the Strait of Hormuz open.
Trump has also approved thousands of troops in a new military deployment to the Middle East despite the one-month ceasefire negotiations. Bitcoin trades are awaiting more cues before making new trades.
Meanwhile, Iran spokesperson Khatem Al Anbia said “You are negotiating with yourselves. Do not call your defeat an agreement.” He also warned that the U.S. “will not see the former price of energy and oil” in the region.
Iran also issued conditions for a potential ceasefire with the United States such as removing all U.S. sanctions on Iran, compensating wartime damages, and more control and leverage over the Strait of Hormuz. These also include no limitations on its ballistic missile program and security guarantees against future U.S. military action.
Moreover, Iran told the United Nations that the Strait of Hormuz will remain open for ships with no ties to Israel and the US. Oil prices dipped below $90 per barrel on de-escalation hopes but remain sensitive to any escalation.
Bitcoin Recovers and Holds Above $71,000
Bitcoin recovered above the $71,000 level today after a drop to $69K after Bernstein signaled BTC bottom. After wavering between a 24-hour low of $68,920 and a high of $71,471, BTC price is currently trading at $71,402.
However, trading volume has dropped by 20% amid the latest rebound. Bitcoin remains under selling pressure amid wavering oil and gold prices amid geopolitical tensions.
CoinGlass data showed mixed sentiment in the derivatives market. At the time of writing, the total Bitcoin futures open interest jumped more than 1% to $50 billion in the last 4 hours. The 24-hour BTC futures OI climbed almost 5%, with a notable uptick on CME and Binance.
Source: https://coingape.com/bitcoin-steady-as-us-iran-peace-talks-in-limbo-amid-new-strikes-trumps-military-deployment/
