Investing.com– Bitcoin fell on Friday and was headed for weekly losses as some uncertainty over U.S.-Iran peace talks and rising interest rates kept markets largely averse towards cryptocurrencies.
fell 2% to $62,687.6 by 01:47 ET (05:47 GMT) and was set to lose 2.8% this week.
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The world’s largest crypto reversed a short-lived recovery after hawkish signals from the Federal Reserve battered appetite for risk-driven, speculative assets. Most altcoins were also battered by this notion.
Institutional investors dumped spot Bitcoin exchange-traded funds for a sixth consecutive week. While the pace of capital outflows was seen slowing from recent weeks, it still pointed to waning investor interest in crypto, especially as investors sought more high-flying artificial intelligence stocks with clearer fundamentals.
US, Iran cancel Switzerland talks
The U.S. and Iran abruptly called off peace talks set to take place in Switzerland on Friday.
Iranian media reports showed Tehran had not sent a delegation to Switzerland for the planned dialogue, while U.S. Vice President JD Vance, who was set to lead the U.S. delegation, also pulled out of the meeting on Thursday evening.
The planned talks were then canceled by Friday morning, Reuters reported, citing comments from Switzerland’s foreign ministry.
Iranian media reports showed Israel’s continued hostilities against Hezbollah in Lebanon remained a key point of contention for Tehran.
This came even as the U.S. and Iran signed a 14-point memorandum of understanding to end hostilities and reopen the Strait of Hormuz. Friday’s talks were set to be the first in a 60-day period of talks over Iran’s nuclear ambitions.
The delay in talks sparked uncertainty over whether the U.S.-Iran peace deal will hold, especially amid continued resistance from Israel.
Still, the U.S. was seen lifting its naval blockade against Iran, while oil flows through the Strait of Hormuz were also seen picking up.
Crypto price today: Altcoins dither, head for muted week
Broader crypto prices fell on Friday and were set for a muted weekly performance.
World no.2 crypto fell 2.2% to $1,699.71, while fell 3.2%.
, , and fell between 2% and 4%.
Among memecoins, fell 2.4%, while fell 0.9%.
