NEW YORK: Bitcoin fell sharply after marathon US–Iran negotiations in Islamabad ended without breakthrough, underscoring how geopolitical uncertainty is rippling through global markets.
The world’s largest cryptocurrency opened around $72,974 on April 11, briefly hovering near $73,000 during the talks, before dipping below that level as news of the deadlock emerged. Prices had earlier touched highs approaching $74,000 on hopes of progress, but quickly reversed course once Vice President JD Vance’s delegation departed without agreement.
Prediction markets reflected heightened caution, with some contracts pointing to potential declines toward $63,000 by April 12 afternoon EDT. Analysts said the failed talks reinforced risk‑off sentiment, prompting traders to unwind positions. Broader crypto markets mirrored the slide, erasing gains that had been buoyed by President Trump’s two‑week ceasefire announcement on April 7.
Market trackers noted Bitcoin was down roughly 3 percent over the past 24 hours, pressured by whale selling and ETF outflows tied to geopolitical risks. The sharp reversal highlighted how fragile sentiment remains amid Middle East tensions, with investors quick to retreat from speculative assets when diplomacy falters.
The downturn followed 21 hours of direct US–Iran negotiations — the first since 1979 — which ended in stalemate.
US–Iran negotiations end in deadlock after 21 hours in Islamabad
Vance said Washington had left a “final and best offer” on the table, but made no mention of the ceasefire set to expire on April 21. The silence added to uncertainty, with markets bracing for possible escalation if the truce lapses without extension.
