Bitcoin and other major cryptocurrencies fell approximately 2% Saturday evening after Vice President J.D. Vance announced the failure of U.S. and Iranian negotiators to agree on an extended ceasefire. The parties met in Pakistan to negotiate an agreement after a nearly six-week U.S. campaign against Iran. Vance stated at a press conference, "We've made very clear what our red lines are... and we've made that as clear as we possibly could." Sticking points included the U.S. demand that Iran "not seek a nuclear weapon and they will not seek the tools that would enable them to quickly achieve a nuclear weapon."
Bitcoin traded around $71,600, Ether (ETH) fell to about $2,200, and XRP slid to $1.33. The broader CoinDesk 20 index also declined, each dropping just under 2% in the immediate aftermath of Vance's announcement.