Quick overview

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Major cryptocurrencies are trading lower over the past 24 hours, pressured by geopolitical uncertainty in the Middle East and the cancellation of negotiations between Washington and Tehran.

Adding to the cautious tone are upcoming Big Tech earnings and key central bank meetings this week.

The crypto market is starting the week on a soft note. Bitcoin (BTC) is down 1.7% over the past 24 hours, trading around $76,700 and failing to sustain its earlier push toward the $80,000 level seen overnight. Meanwhile, Ethereum (ETH) is following the trend, slipping nearly 3% to trade below the $2,300 mark.

Most altcoins are showing similar price action. XRP, Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), and Cardano (ADA) are all moving lower in line with broader market weakness. The exceptions are Hyperliquid (HYPE) and Tron, which are posting modest gains of 1.6% and 0.3%, respectively.

Geopolitics Remains the Key Driver

As in recent weeks, market behavior remains closely tied to developments in the Middle East. Overnight, Bitcoin briefly approached $80,000 following a report from Axios suggesting that Iran had presented a new proposal to the United States to reopen the Strait of Hormuz, postponing negotiations over its nuclear program.

However, the momentum faded after President Donald Trump canceled the planned dispatch of U.S. envoys to Islamabad for talks with Tehran, citing “significant internal conflict and confusion” within Iran’s leadership.

A Week Packed with Catalysts

Analysts broadly agree that the coming days could prove decisive for markets. The Bank of Japan is set to announce its monetary policy decision Monday night, followed by the Federal Reserve on Wednesday, and then the Bank of England and the European Central Bank on Thursday.

This week also brings a wave of Big Tech earnings, with Alphabet, Amazon, Apple, Meta, and Microsoft all scheduled to report. Markets will be watching closely, given the outsized influence these companies have on global risk sentiment.