Bitcoin pulls back on Iran war escalation. Iran rejected plans for peace talks with the US.
BTC is trading around $65,000 today. It currently trades around $65,010.
Why Bitcoin pulls back on Iran war
Iran’s Foreign Ministry spoke to reporters today. They said there are no plans for talks with the US. The country’s focus is solely on self-defense.
This follows President Trump’s earlier FOX interview. Trump said Iran had called and wanted a deal.
The US-Iran war escalated over the past few days. Both sides carried out airstrikes. Trump reinstated the Iranian blockade. This affects the Strait of Hormuz.
Trump also threatened to escalate strikes. He said this will happen if Iran does not negotiate soon.
The crypto market had climbed earlier today. PPI inflation data came in lower than expected. However, rising tensions threaten another downtrend.
US continues strikes, escalating tensions
CENTCOM announced a morning round of strikes. They launched precision munitions against Iranian targets.
The targets included coastal defense systems. They also hit cruise missile storage sites. Launch sites on Greater Tunb Island were also struck.
The strikes lasted 90 minutes. They further degraded Iran’s capabilities. Iran cannot attack commercial shipping as easily.
Traders bet against peace talks
Crypto traders are betting against peace talks. Polymarket data shows this clearly.
There is only a 24% chance of peace talks. This would need to happen by month’s end.
Iran’s top negotiator is Mohammad Qalibaf. He will release a statement today. This should shed more light on Iran’s stance. The war began in February.