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BTC is close to $73,000, but will it chart new gains as the talks progress?
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Just several days after both nations agreed to a two-week cease-fire, their respective delegations are expected to begin face-to-face talks about permanent peace.
US Vice President JD Vance and the rest of the US delegation arrived earlier today in Islamabad, Pakistan, while Parliament Speaker Mohammad Bagher Ghalibaf will lead the Iranian side.
The Trump administration has also sent Steve Witkoff and President Donald Trump’s son-in-law, Jared Kushner. Previous reports from a Pakistani source claimed that JD Vance played a key role in setting up the talks and in developing a more diplomatic solution to end the war.
The US and Iran announced a two-week cease-fire on Tuesday morning, which came just hours before President Trump’s deadline expiration for the Middle Eastern country.
Although a part of the deal was that Iran will safely reopen the Strait of Hormuz, the reality is that only a small number of ships have been passing through. The POTUS commented earlier today, promising that the Strait will be reopened ‘fairly soon.’
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BTC’s price reacted with immediate gains on Tuesday after the cease-fire announcement. The asset traded at around $68,000 before it surged to almost $73,000. After a brief decline in the following days, it tapped $73,500 earlier today.
Consequently, the focus is now on the delegations and the results of the talks. If a permanent peace deal is announced soon, BTC’s price could resume its run as a prominent analyst predicted yesterday.
