On Thursday, Bitcoin experienced a decline in value, paralleling the downturn in U.S. stock markets as investors grappled with mixed signals regarding Iran’s leadership and their willingness to engage in negotiations aimed at resolving the ongoing conflict in the Middle East.
The cryptocurrency was trading around $69,170, reflecting a decrease of 2.3% over the previous day, according to CoinGecko. Earlier that afternoon, Bitcoin had dipped closer to $68,000 before making a slight recovery. In contrast, Ethereum saw a drop of 4.4%, settling at $2,070 while Solana fell by 5%, reaching $86. These declines pushed all three cryptocurrencies into negative territory for the week.
Reflecting Wall Street’s downward trend, the S&P 500 closed down by 1.7%. The tech-heavy Nasdaq index dropped more than 2.3%, and the Dow Jones industrial average plummeted by 470 points after showing relative strength on Wednesday.
Following market closure on Thursday evening, cryptocurrency prices began to rise again as Trump posted on Truth Social that peace discussions “are going very well,” while extending his self-imposed deadline for targeting Iranian energy facilities.
Before markets opened earlier that day, Trump made another post stating that Iran’s leadership “better get serious soon” about ending nearly four weeks of conflict that has unsettled global economic stability—warning there would be “NO TURNING BACK,” he stated.
During a cabinet meeting later at the White House, he asserted that it is Iran’s leadership who is “begging to make a deal” rather than himself and claimed he was “the opposite of desperate,” countering media narratives suggesting otherwise.
At this meeting, White House special envoy Steve Witkoff revealed that America had proposed a comprehensive framework consisting of fifteen points for peace talks which Pakistan communicated to Iran. However on Wednesday Abbas Arghici—the foreign minister—stated there was currently “no intention of negotiating,” according to BBC reports.
Despite Bitcoin remaining above its lowest price point from when hostilities erupted—a figure just above $63,200—crypto markets are still reflecting geopolitical instability as noted by Aurelie Barthere from crypto data firm Nansen who indicated ongoing demand for protective measures among traders through derivatives positioning
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“On-chain capital is adopting defensive strategies,” Barthere remarked further adding “The most significant inflows are directed towards yield-generating stablecoins and liquid staking tokens indicating investors’ focus on returns and safeguarding their capital amid macroeconomic uncertainties.”
As market participants evaluate whether negotiations will lead toward an actionable agreement framework; Barthere suggested geopolitical tensions will likely continue influencing market movements significantly moving forward.On Thursday Brent crude oil futures surged up by five percent reaching $107 per barrel helping reduce weekly losses according Trading Economics data sources .
A prediction platform named Myriad—which belongs under Decrypt’s parent company Dastan—showed traders anticipated approximately sixty percent chance crude oil could reach one hundred twenty dollars before dropping down again towards fifty-five dollars per barrel; this month they predicted even higher odds nearing seventy-eight percent likelihood hitting one hundred twenty first.
This recent dip stands in stark contrast against Bitcoin’s initial resilience earlier this week when it surpassed seventy-one thousand dollars following Trump’s announcement regarding halting planned military actions against Iranian energy infrastructures temporarily pending additional discussions
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User sentiment shifted bearish within Myriad over past twenty-four hours concerning short-term outlooks projecting fifty-two percent probability next target being fifty-five thousand instead eighty-four thousand dollar mark
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