Bitcoin traded slightly above the $73,600 level, showing limited movement in the past 24 hours as high-level negotiations between the United States and Iran began in Islamabad. The broader crypto market also remained largely flat, with minimal price changes across major assets.
Market sentiment improved over the past week following a reported two week ceasefire, which triggered a sharp derivatives move. More than $430 million in bearish positions were liquidated in a short squeeze as prices rallied across digital assets.
Crypto Market Stabilizes After Volatile Week
Ethereum rose roughly 0.1%. Other major cryptocurrencies also recorded minor fluctuations, reflecting a period of consolidation after recent volatility.
Despite the calm in prices, geopolitical risks remain elevated. Israel has continued airstrikes in Lebanon, while Iran has announced plans to impose transit tolls on vessels passing through the Strait of Hormuz, a move that has drawn criticism from former U.S. President Donald Trump.
Diplomatic Efforts Expand With Mixed Leadership Teams
According to multiple reports, the U.S. delegation includes Vice President JD Vance, special envoy Steve Witkoff, and Jared Kushner, while Iran is represented by Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf. Pakistan is acting as a neutral host and facilitator for the discussions.
Despite earlier disruptions linked to regional tensions, some vessels have begun transiting the Strait of Hormuz again. However, shipping volumes remain below normal levels, highlighting the continued uncertainty surrounding one of the world’s most critical energy routes.
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