Bitcoin Price Drops Below $78K as U.S.-Iran Peace Talks Face Fresh Delay

Bitcoin price slipped below $78,000 after President Donald Trump canceled a planned U.S. envoy trip to Pakistan for Iran peace talks. The move added fresh uncertainty around diplomacy between Washington and Tehran. $BTC moved down from an intraday high near $78,000 and traded around $77,200 after the update.

Donald Trump Cancels Envoy Trip to Pakistan

President Donald Trump stopped special envoys Steve Witkoff and Jared Kushner from traveling to Pakistan for talks with Iranian officials. FOX White House correspondent Aishah Hasnie reported the remarks in a post on X. Trump said he told his team not to make an 18-hour flight for the meeting.

The decision came as Iran’s foreign minister, Abbas Araghchi, had already left Pakistan after meeting Pakistani officials. His departure added doubt over whether Iranian officials planned to meet U.S. negotiators. The canceled trip pushed the next round of talks into fresh uncertainty and placed geopolitical risk back into market focus.

Donald Trump later confirmed the decision in a Truth Social post. He said too much time would be spent traveling and claimed there was confusion within Iran’s leadership. Trump also said Iran could call the United States if it wanted to talk.

Bitcoin Price Falls From Intraday High

Bitcoin price reacted quickly after the update. $BTC fell from around $78,000 during the session and moved near $77,200. The move placed Bitcoin below the $78,000 level after recent attempts to build momentum.

The pullback followed a period of uneven trading for the asset. Bitcoin price traded near $77,400 at the time of writing, down over 24 hours. Even with the daily weakness, $BTC remained higher over the past month, with reports showing a monthly gain near 10%.

Trading activity also slowed during the latest move. Market data showed 24-hour volume down about 40% to nearly $18 billion. Lower activity suggested traders remained cautious as geopolitical headlines shaped short-term sentiment.

U.S.-Iran Ceasefire Remains in Place

Trump told Axios the canceled talks do not mean he plans to resume war with Iran. He said the administration had not decided on such a step. The statement helped limit the broader risk reaction, although traders continued to monitor the peace process.

The U.S.-Iran ceasefire remains active after Trump extended it indefinitely. The original two-week ceasefire had been set to expire on April 22. Trump said earlier in the week that the pause would continue until Iran presents a unified proposal to end the war.

Washington has also kept pressure on Tehran through sanctions and financial restrictions. United States froze $344 million in USDT linked to Iran. The U.S. blockade at the Strait of Hormuz also remains active, with Trump saying Iran loses about $500 million daily because of the measure.

Bitcoin Price Watches $80K Resistance

Bitcoin now faces a key technical test near $80,000. Analysts have identified the level as major resistance for the current recovery attempt. A sustained move above $80,000 could open the path toward $90,000 if buyers regain control.

Market analyst Ash Crypto said Bitcoin’s weekly chart has started to show bullish momentum after months of weakness. He pointed to a MACD bullish crossover after about five months. Such a crossover often signals an improving trend strength.

BTCUSD Chart | Source: X

However, the latest geopolitical delay has slowed the near-term move. Sudden policy updates, war-related statements, or renewed tension around Iran could affect risk assets again.