Late on Saturday U.S. time, major cryptocurrencies like Bitcoin (BTC) and others saw a decline of approximately 2% following Vice President J.D. Vance’s announcement that U.S. and Iranian negotiators failed to reach an agreement for an extended ceasefire. The meeting occurred in Pakistan after the U.S.’s nearly six-week military actions against Iran. At a subsequent press conference, Vance confirmed that no agreement had been reached.
As of the latest updates, Bitcoin was trading near $71,600, ether (ETH) dipped to around $2,200, and XRP fell to $1.33. The overall CoinDesk 20 index also dropped slightly to 1,188.52, with each asset experiencing a decline close to 2% following the announcement.
Vance emphasized that the U.S. had clearly communicated its non-negotiable terms, particularly regarding Iran’s nuclear capabilities. “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 stated. Among the critical issues was the U.S.’s demand that Iran would neither pursue nor obtain nuclear weapons or related technologies.