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Bitcoin Rises Above $77,000 Amid Iran Talks
Bitcoin edged higher above the $77,000 mark on Wednesday as investors cautiously assessed signs of progress in US-Iran peace talks, although rising Treasury yields and caution ahead of Nvidia’s earnings report limited broader risk appetite.
The world’s largest cryptocurrency was trading 0.4% higher at $77,175.4 as of 06:48 GMT.
Earlier this week, Bitcoin had slipped towards the $76,000 level, losing momentum after reaching levels above $82,000 last week.
Traders Assess Prospects for Peace with Iran; Nvidia Report Ahead
Market sentiment improved slightly after US President Donald Trump and Vice President JD Vance expressed a more optimistic view of diplomatic talks with Iran.
Trump said on Tuesday that the war with Iran could end “very quickly” if negotiations move forward, and also stated that he had been “an hour away” from authorising another strike before postponing military action to give diplomacy more time.
Vance said that Washington and Tehran had made progress in the ongoing talks, adding that the US remained “fully combat-ready” in case negotiations failed.
Oil prices edged lower amid hopes of de-escalation, with Brent crude declining but remaining above $110 per barrel. Analysts noted that a meaningful drop in oil prices could help ease inflation concerns, which have recently weighed on both cryptocurrencies and technology stocks.
Bitcoin has struggled to regain momentum after a sharp pullback from last week’s highs above $82,000. The rally, fuelled by optimism around institutional crypto adoption and crypto-friendly regulation in the US, has recently been overshadowed by rising global bond yields and persistent inflation concerns.
The yield on benchmark 10-year US Treasury notes rose to 4.687%, its highest level since January 2025, while the yield on 30-year bonds reached 5.198%, levels last seen in 2007. Rising yields typically reduce demand for speculative assets such as cryptocurrencies by increasing the appeal of safer fixed-income instruments.
Investors also refrained from making large bets ahead of Nvidia’s quarterly earnings report, due later on Wednesday and viewed as a key test for the artificial intelligence-driven rally that has supported broader market sentiment this year.
Crypto Today: Altcoins Remain Under Pressure
Most altcoins traded in narrow ranges on Wednesday.
Ethereum, the second-largest cryptocurrency by market capitalisation, fell 0.4% to $2,126.45.
XRP, the third-largest cryptocurrency, declined 1.1% to $1.37.
Solana and Cardano each slipped 0.5%, while Polygon lost 0.3%.
Among meme tokens, Dogecoin fell 1%.
See also: "Bitcoin ETFs Record Third-Largest Outflow of 2026 as BlackRock Loses $448 Million"
