Bitcoin settled near $71,000 on Wednesday as traders awaited clear signals from the latest developments in peace talks between the United States and Iran. Iran launched new strikes on Israel and US bases in the Middle East after President Donald Trump approved a new military deployment.
Gold and oil prices are fluctuating today amid a mix of positive and negative news related to the US-Iran war. Meanwhile, Israel bombed a Russian-Iranian arms supply line, raising concerns about potential escalation.
Bitcoin stable as Iran launches new strikes amid stalled peace talks
As world leaders urge a ceasefire in the US-Iran war, the conflicts show little sign of abating. Bitcoin settled above $71,000 as the United States, Israel and Iran continued air strikes on Wednesday, even as Trump claimed progress in peace talks.
The latest reports reveal that Iranian forces have carried out new missile and drone strikes targeting Israeli infrastructure and US bases throughout the Gulf region, including drone attacks in Saudi Arabia.
Iranian officials told mediators that President Trump had fooled them twice and “we don’t want to be fooled again.” Axios reported On March 25. They added that Trump authorized this Surprise attacks on Iranian energy facilities Despite stopping for 5 days.
Iran has informed the United States that it does not want to hold peace talks with US envoys Steve Witkoff and Jared Kushner, and prefers to negotiate with Vice President J.D. Vance instead.
BREAKING: Iran has informed the United States that it does not want to hold peace talks with US envoys Witkoff and Kushner, and prefers to negotiate with J.D. Vance instead, according to CNN. pic.twitter.com/yP17pDlDI4
– Al Qubaisi Letter (@KobeissiLetter) March 24, 2026
Trump approves new military deployment amid ceasefire proposal
These developments came despite Trump announcing a 15-point plan mediated by Pakistan and expressing his optimism about a ceasefire. Key negotiations in the plan relate to nuclear weapons and infrastructure, ballistic missiles, sanctions on Iran, and keeping the Strait of Hormuz open.
Trump also approved the deployment of thousands of troops in a new military deployment to the Middle East despite the one-month ceasefire negotiations. Bitcoin trades wait for more signals before making new trades.
Meanwhile, Iranian spokesman Khatam al-Anbia said: “You are negotiating with yourselves. Do not call your defeat an agreement.” He also warned that the United States “will not see the previous price of energy and oil” in the region.
“You are negotiating with yourselves,” Iranian military leadership criticizes Trump’s claims about the negotiationshttps://t.co/Lmpv067bSJ
– Economic Times (@EconomicTimes) March 25, 2026
Iran has also issued conditions for a potential ceasefire with the United States, such as the removal of all US sanctions on Iran, compensation for war damage, and more control and influence over the Strait of Hormuz. These also do not include any restrictions on its ballistic missile program and security guarantees against any future US military action.
Furthermore, Iran informed the United Nations that the Strait of Hormuz will remain open to ships that do not have relations with Israel and the United States. Oil prices fell below $90 per barrel amid hopes for stopping the escalation, but they remain sensitive to any escalation.
Bitcoin recovers and holds over $71,000
Bitcoin rebounded above $71,000 after falling to $69,000 afterwards Bernstein pointed to the bottom of BTC. The price is currently trading at $71,045, with the 24-hour low and high of 68,920 and 71,371 respectively.
However, trading volume has fallen by 20% amid the recent recovery. Bitcoin remains under selling pressure amid fluctuating oil and gold prices amid geopolitical tensions.
CoinGlass data showed mixed sentiment in the derivatives market. At the time of writing, total open interest in Bitcoin futures jumped more than 1% to $50 billion in the past four hours. BTC futures rose over a 24-hour period by nearly 5%, with notable gains on CME and Binance.
