Bitcoin and other cryptos fall as U.S., Iranian negotiators fail to reach war resolution

Bitcoin and other major cryptocurrencies all fell around 2% late Saturday evening U.S. hours after Vice President J.D. Vance announced that U.S. and Iranian negotiators had failed to agree to an extended ceasefire.

The parties met in Pakistan Saturday to negotiate an agreement after the U.S.’s nearly six-week long campaign against Iran. Vance said at a press conference afterward that the U.S. had “not reached an agreement.”

Bitcoin traded hands around $71,600 as of press time, while ether (ETH) fell to about $2,200. XRP slid to $1.33, and the broader CoinDesk 20 index similarly fell to 1,188.52 — each of these prices fell just under 2% in the immediate aftermath of Vance’s press conference.

“We’ve made very clear what our red lines are, what things we are willing to accommodate them on and what we’re not willing to accommodate them on, and we’ve made that as clear as we possibly could,” he said.

Sticking points included the U.S.’s insistence that Iran would “not seek a nuclear weapon and they will not seek the tools that would enable them to quickly achieve a nuclear weapon,” Vance said.