Bitcoin Rises on Hopes For U.S.-Iran Diplomacy — Market Talk
Bitcoin rises as a pause in fighting between the U.S. and Iran improves risk sentiment. President Trump has delayed major military escalation against Iran to allow for diplomacy, The Wall Street Journal reports, citing U.S. officials. Continued negotiations, lower energy prices and reduced military escalation improve liquidity conditions, lower inflation fears and support risk appetite, Zaye Capital Markets analyst Naeem Aslam says in a note. However, bitcoin remains vulnerable given recent outflows in spot bitcoin exchange-traded funds, he says. Any renewed attacks in the Middle East could send bitcoin to as low as $60,000, he says. Bitcoin rises 1.3% to $65,440, LSEG data show. ([email protected])