Quick overview

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For now, geopolitical tensions continue to cloud market sentiment, as Iran and the United States remain far from reaching a peace agreement.

The cryptocurrency market remains on edge amid uncertainty over potential actions by the U.S. and Israel against Iran, even as hopes for a de-escalation in the Middle East persist. In this context, Bitcoin (BTC) has fallen below the $66,000 mark.

The leading cryptocurrency is down 4%, trading near $66,513.40. Meanwhile, Ethereum (ETH) follows suit, declining 4.1% to $1,985.63. Among altcoins, Solana stands out with losses of 5.1%, while XRP is down 3.2%.

Middle East tensions persist, keeping markets cautious

Markets extended their cautious tone after Iran rejected a 15-point proposal from the United States to end the conflict, instead putting forward its own five-point plan. At the same time, Iranian media reported that Tehran had largely ruled out the possibility of direct talks with Washington.

On Tuesday, U.S. President Donald Trump said Washington was “in negotiations right now” with Iran, noting that Tehran was “speaking sensibly” and appeared open to a peace deal. However, a series of Israeli strikes in Tehran heightened investor caution, undermining signs of potential diplomatic progress.

Oil prices, meanwhile, reversed their recent gains, helping to support broader risk appetite. This shift has influenced recent moves in Bitcoin, which has adjusted to the volatile backdrop while showing some resilience despite geopolitical tensions.

Separately, the market reacted mixedly to a new draft of the Clarity Act. In that regard, Coinbase Global—a major industry player—voiced opposition. A key issue in the proposal concerns the treatment of yield payments on stablecoin deposits, as major U.S. banks have called for stricter oversight or even an outright ban, citing potential systemic risks.