Bitcoin continues to be susceptible to the developments and statements regarding the war in the Middle East, as it appears the only factor that has impacted its price moves over the past month and a half. The latest reports on the matter indicate that the talks between the US and Iran have stalled, which is highly concerning, given the deadline that expires later today. No Progress on Peace Talks After more threats during the weekend that Iran has to reopen the Strait of Hormuz by Monday, reports emerged yesterday morning that Iran and the US have engaged in peace talks that could lead to a 45-day cease-fire followed by a permanent end to the war. Trump also extended that same warning deadline, in which he threatened to attack power plants and bridges in Iran, to Tuesday evening. However, even the initial report claimed that the chances for a deal are slim. Information cited by Walter Bloomberg now reads that the peace talks have stalled and the tension between the two nations is rising again. “Indirect US-Iran talks are ongoing, but progress toward a 45-day cease-fire remains limited.” The report says Iran has refused to reopen the Strait or give up its enriched uranium in exchange for a temporary truce. Instead, its officials want a permanent cease-fire and to retain full control of the Strait, while sharing transit fees with Oman. The 8 pm deadline for today is close to expiring, and there are three most evident scenarios at the moment, Walter Bloomberg explained : Back down (unlikely): Trump could avoid action, but this risks weakening his leverage—though large-scale strikes would be a major escalation. Delay with talks: He may claim progress toward a deal and push the deadline back, keeping pressure while negotiations continue. Military strikes: If he believes Iran is stalling, he could launch strikes—either immediately or in stages to force concessions. BTC Dips, More Volatility Next? As mentioned above, the developments on the war front are what drive BTC up or down lately. The asset had a quiet weekend but surged from $67,000 to over $70,000 on Monday after the cease-fire report went live. However, it lost traction in the following hours as progress stalled and dipped again to $68,000 minutes ago following the latest information on the matter. More volatility is expected later today as Trump’s deadline hour approaches. It will depend on which step he chooses, but it’s likely that BTC will fluctuate even more, especially if there are more severe strikes and war escalation. BTCUSD April 7. Source: TradingView The post Bitcoin Price Dips Again as US-Iran Talks Stall and Trump’s Deadline Approaches appeared first on CryptoPotato .
