Crypto markets are holding steady after a volatile week driven by geopolitical developments and a large-scale derivatives squeeze.
Bitcoin (BTC) is trading just below $73,000 on Saturday, down დაახლოებით 0.2% over the past 24 hours, as senior U.S. and Iranian officials begin high-level negotiations in Islamabad. The broader digital asset market is largely flat.
Earlier in the week, prices moved higher following the announcement of a two-week ceasefire, which triggered a sharp short squeeze in derivatives markets. More than $430 million in bearish positions were liquidated as traders rushed to cover.
Despite the rebound, the geopolitical backdrop remains fragile. Israel has continued airstrikes in Lebanon, while Iran has said it will impose transit fees on vessels passing through the Strait of Hormuz—drawing criticism from U.S. President Donald Trump.
According to CNN, the U.S. delegation is being led by Vice President J.D. Vance, special envoy Steve Witkoff, and Jared Kushner, who is not a formal government official but remains a key Trump ally. Iran’s side includes Foreign Minister Abbas Araghchi and Parliament Speaker Mohammad Bagher Ghalibaf, as reported by The New York Times. Pakistan is acting as a third-party host for the talks.
Meanwhile, some maritime traffic has resumed through the Strait of Hormuz on Saturday, after flows through the critical shipping lane dropped sharply following U.S. strikes on Iran in late February.
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