Quick overview

---

The cryptocurrency market closed Tuesday in negative territory, despite expectations that Iran and the United States could reach a peace agreement.

Bitcoin slipped 0.5%, breaking below the $76,000 level, while Ethereum also edged lower, holding near $2,300.

The broader altcoin market followed the downward trend. XRP, BNB, Solana, Dogecoin, and Cardano posted losses similar to Bitcoin’s. Hyperliquid led declines with a drop of around 4%, while Monero stood out on the upside, gaining roughly 8%.

In the investment products segment, spot Bitcoin ETFs extended their streak to five consecutive days of net inflows. On Monday alone, they attracted $238.4 million, bringing the total for the run to nearly $1.5 billion. ETFs tied to Ethereum and Solana also continued to see positive flows.

Ceasefire extension in focus

U.S. President Donald Trump announced Tuesday that he would extend the ceasefire with Iran until “they present a unified proposal” for an agreement. He did not provide a specific timeline, though he confirmed that the Strait of Hormuz would remain blocked.

Over the weekend, a potential trip by Vice President J. D. Vance to Islamabad was considered to resume negotiations with Iran. Authorities in Tehran neither confirmed nor denied a return to Pakistan’s capital. However, despite Trump’s announcement, the trip now appears to be canceled, according to a Washington official.

Despite the uncertain backdrop, Trump emphasized the “strong position” of the United States. “We’re going to make a great deal. I think they have no choice,” he said.

Earlier in the day, however, Trump appeared to contradict himself when asked whether he would extend the ceasefire. “I don’t want to do that. We don’t have that much time,” he said.

Meanwhile, Iranian commander Ali Abdollahi, head of the Khatam al-Anbiya Central Headquarters, warned that Iran is prepared to respond forcefully to any violation of the truce, according to Tasnim news agency.

Iranian President Masoud Pezeshkian also accused the White House of sending “unconstructive and contradictory signals.” Trump’s remarks—including his warning that the U.S. would not hesitate to strike Iran again if talks fail—were seen as part of that mixed messaging.

From a technical perspective, data from Bloomberg show that funding rates for perpetual futures have remained in negative territory for 46 consecutive days—the longest streak since the collapse of FTX in late 2022—highlighting a broadly bearish positioning in the derivatives market.