Trump says Iran war "close to over" amid hopes for more negotiations
Investing.com -- Bitcoin turned higher on Wednesday, though it was unable to sustain above $75,000, as risk sentiment continued to grow on hopes for renewed diplomacy between the U.S. and Iran.
The world’s largest cryptocurrency was last up 0.4% to $74,571.7 by 17:37 ET (21:37 GMT).
Bitcoin briefly touched highs above $76,000 in the previous session, before momentum slowed amid profit-taking.
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Trump says war is ’close to over’
The recent rally in Bitcoin mirrored gains in other risky assets such as equities. Wall Street ended at a new record high on Wednesday, as investors were encouraged by signs of easing geopolitical tensions after President Donald Trump signaled that talks with Iran could resume.
"BTC closed Tuesday at $74,171, up 10.6% since the Iran war began on February 28. Unlike most risk assets, it did not fall materially when the conflict started and has continued to grind higher through the recovery. Spot volume reached $8.7 billion and $9.6 billion on April 13 and 14, respectively, back to January averages and above March’s $7.6 billion daily mean, supporting the price move," Dessislava Ianeva, analyst at Nexo Dispatch, said.
Speaking to UK’s Sky News, Trump said it was "very possible" that a permanent ceasefire agreement with Iran could be reached prior to the visit of King Charles later this month. He added that Iran has been "beaten up pretty bad."
Earlier, Trump told Maria Bartiromo of Fox News that the conflict, which began with joint U.S. and Israeli strikes on Iran in late February, is "close to over."
The New York Post also reported that Trump expects temporary U.S.-Iran ceasefire talks to resume in the next two days, following a first round of talks in Pakistan last weekend that failed to produce any results.
White House Press Secretary Karoline Leavitt on Wednesday told reporters that the U.S. "remain very much engaged" in negotiations and that the conversations were "productive and ongoing."
"We feel good about the prospects of a deal," Leavitt said, adding that reports about the U.S. requesting for an extension to the ceasefire were not true. She also said more talks would very likely be held again in Islamabad in Pakistan, adding that the country had been "incredible mediators" and were the "only mediator" in the negotiation.
The prospect of more talks came even as tensions remained elevated. U.S. Central Command said it had "fully implemented" a naval blockade of ships leaving Iranian ports, while Tehran has threatened retaliation against ports in neighboring Gulf states.
UK regulator seeks industry feedback on crypto rules
Britain’s Financial Conduct Authority (FCA) launched a consultation Wednesday on how planned cryptocurrency regulations, set to take effect by October 2027, would affect firms operating in the sector.
The regulator is seeking feedback on a range of proposed rules covering activities such as running crypto trading platforms, dealing in digital assets, staking, and custody services.
"Crypto firms will be able to start applying for authorization from September 2026. Ahead of this, the FCA is providing crypto firms with support on how to apply and to understand how the future regime could work," the watchdog said.
"Until the new regime comes into force, crypto is largely unregulated except for financial promotions and financial crime purposes. As with all high-risk investments, people should only put in what they can afford to lose," the FCA added.
Crypto price today: altcoins turn higher
Most altcoins turned higher on Wednesday, tracking Bitcoin.
World no.2 crypto Ethereum was up 1.3% to $2,353.49.
World no. 3 crypto XRP added 1.8% to $1.3843.
Solana gained 1% and Cardano climbed 3%.
Among meme tokens, Dogecoin rose 1.8%.
Ayushman Ojha and Vahid Karaahmetovic contributed to this article