Investing.com– slid on Thursday, reversing some of this week’s gains as conflicting signals on discussions over a ceasefire in the U.S.-Israel war on Iran kept risk appetite largely muted.
Uncertainty over the progress of a key U.S. crypto regulatory bill, the Clarity Act, also weighed on crypto markets, after reports pointed to mixed industry reactions to recent proposals under the bill.
Bitcoin fell 2.5% to $69,159 by 11:10 ET (15:10 GMT). The world’s largest crypto had risen as high as $71,419.0 earlier in the session.
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The world’s largest crypto fell tracking broader declines in risk-driven markets, with Asian stocks and Wall Street futures also falling. Oil prices rebounded, keeping markets on edge over the energy shock from the Iran conflict.
Iran rules out direct US talks, says reviewing ceasefire proposal
Crypto and broader risk-driven markets had advanced on Wednesday after reports said the U.S. had presented a 15-point ceasefire proposal to Iran.
But markets curbed their gains after Iran initially rejected the proposal, and proposed its own 5-point ceasefire deal.
Iranian state media reported later in the day that the country was reviewing the U.S. proposal, but had largely ruled out the prospect of any direct talks with Washington.
Mixed cues on the Iran conflict left markets largely on edge over how it will play out, denting investor appetite for speculative assets such as crypto. While Bitcoin has fared better than gold since the onset of the Iran war, it is still nursing losses for 2026.
Crypto industry shows mixed reaction to Clarity Act- Coindesk
Crypto industry participants showed mixed reactions to the latest draft of a long-awaited market structure bill, the Clarity Act, which was shown to them at a meeting earlier this week, Coindesk reported.
Crypto exchange and major industry voice is unhappy with the latest draft, Coindesk reported, citing people familiar with the situation.
A key point of contention over the Clarity Act, which seeks to establish a crypto regulatory structure, is the nature of yield payments on stablecoin deposits.
Major U.S. banks have broadly called for increased scrutiny or the outright blocking of payments on stablecoin deposits, warning of potential systemic risks from the payments.
On the other hand, crypto proponents, especially Coinbase, have argued that blocking stablecoin payments would make the U.S. less competitive. Opposition from Coinbase was a major pain point in the Clarity Act’s progress in Congress.
Crypto price today: altcoins retreat tracking Bitcoin
Broader crypto prices largely retreated on Thursday, tracking declines in Bitcoin.
World no.2 crypto Ether fell 4.5% to $2,072.98, while lost 3.3% to $1.36.
and dipped 4.9% and 5.4%, respectively, while BNB shed 2.7%.
Among memecoins, slid 5.4%, while $TRUMP dropped over 6%.
(Ambar Warrick contributed to this report.)