U.S. Seeks Iran Peace Talks This Weekend as Bitcoin Bounces

The U.S. is pushing ahead with plans to have peace talks with Iran to end the war, with reports that talks could hold as soon as this weekend. Bitcoin has bounced on the back of this development, having slid after Iran said it won’t talk with the U.S. until the U.S. meets five conditions it outlined to end the war.

U.S. Iran Talks Could Hold This Weekend as Bitcoin Bounces

According to a CNN report, the White House is working to arrange a meeting in Pakistan this weekend to discuss an off-ramp to end the war. This marks the latest development as the U.S.-Iran war approaches the one-month mark.

Bitcoin sharply climbed above $71,000 following this report of potential peace talks between the U.S. and Iran. The leading crypto is currently trading just above this psychological level with a gain of less than 1% today.

Bitcoin had climbed to almost $72,000 earlier today but retraced after Iran rejected the U.S. proposal for a ceasefire and instead called for a complete end to the war. Iran also outlined five conditions to end the war and stated that it won’t have talks with the U.S. until these conditions are met.

Axios reporter Barak David stated that it is not entirely clear how much of the Iranian position is posturing and if they are indeed closing the door on negotiations. He cited a U.S. official, who said that the Trump administration has yet to receive any official messages from Iran rejecting the offer.

This is a positive for the Bitcoin price and the broader crypto market, even as crypto traders continue to bet against a ceasefire any time soon. Meanwhile, according to WSJ, Arab mediators and other people familiar with the matter have said that Iran is being less strident in private discussions to end the war than it is in public. This has provided optimism that they could make headway in the effort to end the war.