The crypto market advanced on Saturday after new developments in nuclear negotiations between the United States and Iran eased concerns about a protracted geopolitical conflict. Easing tensions supported risk assets and boosted digital currencies after weeks of uncertainty linked to developments in the Middle East.
Crypto Market Reacts to US-Iran Diplomatic Progress
At press time, the Bitcoin price is changing hands at $68,340, 1.40% higher than over the past day. The asset stabilized in a higher trading range this week after oscillating earlier. The broader crypto market also reflects reports of progress in diplomatic negotiations.
U.S. officials acknowledged the Iranian position that enrichment would take place, according to a Bloomberg report. The semi-official Iranian Students News Agency (ISNA), based in Tehran, cited an unnamed diplomat who participated in the discussions. The suspension of enrichment was rejected during recent discussions in Geneva, the diplomat said.
Instead, discussions focused on the technical elements of Iran’s atomic program. These include the location, depth and quantity of uranium centrifuges. The diplomat also commented on suggestions to completely remove nuclear materials from Iran, saying such proposals are not being discussed at the moment.
These comments echo remarks by Iranian Foreign Minister Abbas Araghchi. He told MS Now that the United States has not requested zero enrichment. He added that both sides were seeking to reach an agreement quickly.
American and Iranian officials held their second round of talks in Geneva on Tuesday, mediated by Oman. The discussions came as President Donald Trump emphasized increasing U.S. military resources in the Middle East. Earlier this week, Trump said he was considering a limited strike against Iran if a deal was not reached by early next month.
Crypto market participants also responded to the confirmation that the United States accepts Iran’s stance on enrichment. In an article on X, analyst Ash Crypto described this development as a positive signal.
Market Sentiment and Bitcoin Price Outlook
Polymarket trading data provided a conflict probability of 18% as of February 28. The probability was 61% as of March 31. The platform predicted a probability of 67% as of June 30 and 73% as of December 31.
Despite reports of diplomatic progress, crypto traders continue to weigh the possibility of a strike by the end of March, according to market forecast data. The assigned probabilities indicate that geopolitical risk remains present in market expectations. The crypto market remains cautious as any sudden escalation could trigger a crypto market crash and put strong pressure on prices.
However, Bitcoin is currently stuck between two important liquidity zones, said analyst Ted in an article Regarding liquidity, Ted noted that a retest of $72,000 seems more likely.
However, the CryptoNik analyst presented a more cautious view. In an article X, he said it was alarming to see Bitcoin falling below $60,000. He warned that if a “respected president” launched military action over a weekend, the price could quickly drop to $50,000.
The analyst added that such a move could benefit investors holding cash positions. CryptoNik also raised the question of how long it typically takes for the cryptocurrency market to stabilize after sharp corrections of this magnitude.
