Bitcoin Falls Below $75,000 as Iran Proposes New Meeting Structure with the US
Bitcoin's recent price decline reflects broader trends in the cryptocurrency market, coinciding with Iran's attempts to reshape talks with the US.
Bitcoin’s price has taken a downturn, slipping from about $78,000 to $74,780 in a short span. This downturn has led to nearly $20 million in liquidations across major exchanges, primarily affecting long positions.
Source: TradingView
In the past hour, Bitcoin (BTC) has lost roughly 1.7% of its value, closely followed by declines in altcoins such as Ethereum (ETH), which fell by 2%, and XRP, which dropped by 1.56%.
This sudden price drop aligns with recent developments where Iran is seeking a new bilateral meeting format with the United States regarding nuclear discussions. Previously, several Middle Eastern nations had tried to broker discussions in Istanbul.
“The shift could derail the diplomatic effort and increase the risk of a U.S. military response amid Trump’s Gulf buildup.”
Bitcoin’s performance appears at odds with traditional safe-haven assets like gold, which have risen approximately 3.5% over the past 24 hours. This divergence hints at the ongoing bearish sentiment engulfing the crypto market.
