Bitcoin returned above $75,000 on the 23rd. The direct factor driving the market recovery was new progress in U.S.-Iran ceasefire negotiations, temporarily easing geopolitical tensions.
The U.S. and Iran discuss extending the ceasefire.
Reports indicate that mediators are pushing the United States and Iran to extend the current ceasefire by 60 days. The Financial Times, citing sources, said the agreement may include a phased restoration of passage through the Strait of Hormuz and discussions on the disposition of Iran’s enriched uranium.
Iran’s Foreign Ministry spokesperson Baghaei said that both sides are discussing a memorandum of understanding aimed at ending the conflict. More complex issues, such as the nuclear program, may be addressed through further consultations during an extended ceasefire.
Trump confirms the existence of a draft.
According to CBS, U.S. President Trump said that a draft agreement has been reached and that he has reviewed the document. However, he did not indicate whether it has been formally approved, only stating that the two sides are closer to reaching an agreement.
U.S. Secretary of State Rubio later told the New York Post that further updates may be available later that day. He also said that progress has been made in negotiations, and all parties are working to finalize the final agreement.
Bitcoin turns from decline to rise
Citing TradingView data, the article states that BTC briefly fell below $75,000 earlier before rebounding to approximately $75,500. It also notes that the previous price pressure was linked to the U.S. Securities and Exchange Commission's delay in making a decision on tokenized stocks.
- BTC briefly dropped below $75,000 during trading.
- Then rebounded to approximately $75,500
- The ceasefire extension is reportedly expected to last 60 days.
If the ceasefire arrangement is confirmed, market risk appetite may continue to recover; if negotiations stall again, geopolitical factors could still amplify short-term volatility in crypto assets.