Bitcoin slid 2% on Saturday evening, dropping from above $73,000 to around $71,310, after US and Iran failed to agree on terms during high-stakes negotiations in Islamabad, Pakistan.
Vice President JD Vance, who led the US delegation, confirmed that talks between the US and Iran in Islamabad, Pakistan, concluded without an agreement.
Vance stated that Iran rejected the US position, emphasizing that Washington requires a fundamental commitment from Tehran to abandon its nuclear weapons development.
Vance noted that the negotiations spanned 21 hours and involved frequent consultations with President Donald Trump, who has made halting Iran’s nuclear program a core objective. He added that the US proposal represented its final offer.
In response, Iran’s foreign ministry characterized the talks as intensive and urged the US to abandon “excessive demands and unlawful requests” while respecting Iran’s sovereign rights.
According to IRGC-affiliated media Fars News Agency, an Iranian source accused the US of moving the goalposts during the deliberations.
A key sticking point involves US demands regarding the Strait of Hormuz, which has remained effectively closed since the outbreak of conflict between the US, Israel, and Tehran in late February.
The source suggests Washington is attempting to achieve through diplomacy what it failed to secure during the 40-day war, specifically citing US proposals for tanker protection, shipping insurance, and other military-economic measures.
These negotiations follow a Pakistan-brokered two-week ceasefire reached on Wednesday, after Washington accepted a 10-point proposal from Tehran. While Iran maintains that sending a delegation signals its willingness to negotiate, officials warn that its armed forces remain on high alert.