Bitcoin is trading below $73,000 on Saturday. In the last 24 hours, the cryptocurrency lost around 0.2 percent in value. In this process, the high-level contacts initiated by the US and Iranian delegations in Islamabad attracted attention.
Calm outlook across the market
There was a significant rise in the crypto market throughout the week. Following the two-week ceasefire announcement, there was a harsh short squeeze in derivative markets and over $430 million of bearish positions were liquidated.
CoinDesk 20 index was up 0.12 percent in the last 24 hours. Ethereum also increased by 0.1 percent. Slight fluctuations were observed in other main crypto assets.
In summary, the market moved into the weekend with a calm outlook after the volatile scene at the beginning of the week. Investors are watching how the impact of geopolitical risks will be reflected in pricing.
US-Iran talks and developments in the region
The short-term ceasefire agreement between the USA and Iran did not fully eliminate the current risks. While Israel’s air strikes against Lebanon continue, Iran announced that it will collect a transit fee from ships passing through the Strait of Hormuz.
US President Donald Trump opposed this development. The Strait of Hormuz is critical for global energy supply. When the US attacks against Iran began at the end of February, maritime traffic in the region decreased significantly.
As of Saturday, it was determined that some ships were using this strategic passage again. However, it is reported that tensions have not completely decreased and security risks continue.
According to information provided by CNN, the US delegation is headed by Vice President JD Vance, special representative Steve Witkoff and Trump’s son-in-law Jared Kushner. Kushner does not hold an official position in the US government.
On the Iranian side, there are high-level figures including Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf. Pakistan is acting as a mediator in the talks.
Crypto markets are closely monitoring the impact and possible consequences of these talks on regional tension. In particular, investors continue to take cautious positions against fluctuations due to geopolitical developments.
