Cryptos Slide Despite US-Iran Peace Talks Amid Market Jitters
Crypto market participants are witnessing another day of losses despite recent reports that the US and Iran will hold fresh peace talks. According to data from CoinMarketCap, Bitcoin (BTC) has slipped below $63,000, trading at $62,520 as of writing, while Ethereum (ETH) is defending the support at $1,800.
The drop in crypto prices comes after a day when President Donald Trump announced that the US and Iran will hold fresh talks for peace on August 3. This statement was made barely two days after he threatened 'very hard strikes' on Iran, causing $280 million in liquidations across the crypto market as traders rushed to sell on fears of rising tensions.
Instead of boosting crypto prices, Trump's turnaround on focusing on peace talks has caused most top ten largest cryptos to drop, apart from Binance Coin (BNB), Tron (TRX), and Hyperliquid (HYPE) that are up by 0.43%, 0.41%, and 2.14% respectively.
The fear and greed index has moved from 27 to 28, suggesting that the upcoming peace talks between the US and Iran are boosting the sentiment in the market.