Bitcoin has already dropped by nearly one thousand dollars, and further volatility is expected as the new trading week approaches.
Despite the recent extension of the ceasefire between the United States and Iran, efforts to resume formal negotiations have stalled once again, this time before talks could even begin.
US President Donald Trump announced earlier that the American delegation, which was expected to include Jared Kushner and Steve Witkoff, would no longer travel to Islamabad, Pakistan, for discussions with Iranian officials.
In his statement, Trump said he canceled the trip due to wasted time on travel and ongoing internal disagreements within Iran’s leadership, adding that there is confusion over who is in charge. He also claimed that the United States holds all the leverage, while Iran has none, but noted that communication remains open if Iran chooses to reach out.
Shortly before Trump’s announcement, reports indicated that Iran’s foreign minister had already left Pakistan without meeting US representatives, reinforcing signs of a breakdown in diplomatic progress.
Market Reaction and Volatility Outlook
Developments surrounding US and Iran relations have consistently triggered volatility in Bitcoin and the broader cryptocurrency market. Following this latest update, Bitcoin was rejected near the 78 thousand dollar level and declined by nearly one thousand dollars.
Historically, the most significant price swings tend to occur on Sunday evenings and early Monday, when traditional spot and futures markets reopen. With no meaningful progress toward a long term resolution, the current situation could increase selling pressure in the short term.
Earlier in the week, Bitcoin had climbed to a multi month high close to 80 thousand dollars, driven by optimism after the ceasefire extension between the two countries.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
