Bitcoin slipped on Tuesday, as risk sentiment took a hit amid an apparent breakdown in further U.S.-Iran peace talks, prompting President Donald Trump to extend an ongoing ceasefire between the two nations.
The world’s largest cryptocurrency was last down 0.6% to $75,537.5 at 17:51 ET (21:51 GMT).
"(Bitcoin’s) key resistance levels are $75,500–$75,600; a clean break above them opens the path toward $80,000, Bitcoin’s prior consolidation zone from early 2026. Below, $73,500 is the near-term support," Iliya Kalchev, analyst at Nexo Dispatch, said.
"Technical momentum is building — the bull/bear power indicator is in buy territory and the Commodity channel index is approaching the 100 threshold, signalling strengthening upward conviction," he added.
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Ceasefire extended as talks come to a standstill Just minutes after the closing bell on Wall Street, Trump said he would extend an ongoing two-week ceasefire between the U.S. and Iran that was set to expire on Wednesday.
"Based on the fact that the Government of Iran is seriously fractured, not unexpectedly so and, upon the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal," the president said on his Truth Social service.
"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other," Trump added.
Earlier, market participants had been on edge amid growing uncertainty over the state of peace talks. The New York Times reported in the afternoon that U.S. Vice President JD Vance’s trip to Islamabad in Pakistan for more talks was on hold after Tehran failed to respond to U.S. negotiating positions, citing a U.S. official with direct knowledge of the matter.
Iran’s Fars News Agency said the country was yet to decide on attending the talks, citing the foreign ministry’s spokesperson. State media also said that Tehran wanted the U.S. to lift its blockade on vessels entering and exiting Iranian ports before peace talks could restart.
Then, just ahead of the closing bell, Iran’s Tasnim News Agency said Iran would not attend the talks, citing an Iranian official. Soon after, the Associated Press said Vance had called off his trip, citing a U.S. official.
Kevin Warsh hearing, Fed outlook in focus Traders also focused on a confirmation hearing for Kevin Warsh, Trump’s nominee to take over from current Federal Reserve Chair Jerome Powell.
The U.S. Senate’s Committee on Banking, Housing, and Urban Affairs grilled Warsh about Fed independence, his discussions with Trump about interest rates, and his financial assets.
