The US-Iran talks have collapsed! The crypto market dives on the spot, with Bitcoin and Ethereum all weakening together

Just as the Middle East situation had slightly eased, it suddenly took a turn. On April 12, the U.S. and Iran in Pakistan completely fell apart in their ceasefire extension talks. As soon as the news broke, the crypto market immediately “changed its face,” and major coins fell across the board .

On Saturday night in the U.S. local time, officials directly announced that no agreement was reached in the negotiations. After more than six weeks of a military standoff, the two sides still couldn’t get on the same page. The key sticking point is still Iran’s nuclear issue: the U.S. insists that Iran commit to not developing nuclear weapons, and even related technology can’t be touched; Iran on its side simply won’t give an inch, and the two sides’ positions don’t match at all.

The market reacted especially fast. Bitcoin dropped directly to about $71,600, down nearly 2% over 24 hours. Ethereum also slid lower, hovering around $2,200. Ripple fell to $1.33, and even the CoinDesk 20 Index, which covers major coins, also dropped by about 2%, closing at 1188.52 points.

Actually, this isn’t really surprising. The crypto community has always been particularly sensitive to geopolitical risks. When the ceasefire news first came out, the market even saw a small uptick. Now that the negotiations have broken down, everyone is worried that the conflict in the Middle East could escalate again, so funds naturally start seeking safety. In the short term, market volatility will definitely be amplified, and many investors are watching to see whether there will be any new moves afterward.

This sell-off once again shows that, at the end of the day, cryptocurrencies are still risk assets. Their prices are tightly linked to the global situation—one ripple of change can trigger market volatility
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