US-Iran Talks Fail in Islamabad; Bitcoin Drops Below $72,000

U.S. and Iranian delegations left Islamabad after a 21-hour negotiation session without reaching an agreement. Vice President J.D. Vance, who led the U.S. team, departed Pakistan after a brief press exchange.

Vance told reporters that U.S. negotiators had engaged in good faith and offered what he called a final, “very simple proposal.” He added that preventing Iran from developing nuclear weapons remains President Trump’s “core goal” and described the U.S. team as “quite accommodating and flexible.”

Iranian officials gave a different account. An Iranian state broadcaster reported the talks stalled over what it described as “unreasonable demands” from the American side. A person close to Iran’s negotiating team said Washington pressed for concessions it could not secure on the battlefield and indicated Tehran had “no plans for the next round of talks.”

Markets reacted quickly. Bitcoin, which had climbed near $74,000 on Saturday, dropped to an intraday low of about $71,168 during early Asian trading and was trading near $71,716 at the time of reporting, down roughly 1.8% over 24 hours. The broader cryptocurrency market capitalization fell by about 1.7%. Ethereum traded near $2,220 and XRP around $1.33, each off about 2%.

The talks took place against the backdrop of a two-week ceasefire that officials and traders described as fragile. Military activity continued in the region: Israeli forces conducted airstrikes in Lebanon, and Iran announced plans to impose tolls on vessels using the Strait of Hormuz.

Security developments in the strait added to uncertainty. U.S. officials reported that Iranian forces had been unable to locate all naval mines reported in the waterway. U.S. Central Command said two U.S. Navy destroyers transited the strait to begin mine-clearing operations; Iranian authorities rejected that account.

Pakistan’s foreign minister urged both sides to uphold the ceasefire and continue diplomatic efforts to prevent a resumption of hostilities.

The Islamabad meeting was one of several recent attempts to reduce direct confrontation between Washington and Tehran. Remaining points of contention included Iran’s nuclear program and control over maritime routes in the region.