The price of Bitcoin rose above $77,000 during trading on Wednesday, as investors cautiously monitored developments in negotiations between the United States and Iran, while a surge in US bond yields and anticipation of Nvidia's results limited risk appetite in the markets.
The world’s largest cryptocurrency rose 0.4% to $77,175.40, after being pressured by selling at the start of the week that pushed it towards the $76,000 level, following a strong upward surge that saw it exceed $82,000 last week.
Alternative cryptocurrencies saw limited performance, with Ethereum falling 0.4% to $2,126.45, while Ripple dropped 1.1% to $1.37.
Solana and Cardano each fell by 0.5%, while Polygon dropped by 0.3%, and Dogecoin declined by 1%, as caution continued in trading.
Investor sentiment improved somewhat after comments from US President Donald Trump and Vice President J.D. Vance regarding negotiations with Iran, with Trump indicating that the war could end very quickly if the talks made tangible progress.
Trump revealed that he was an hour away from ordering a new strike against Iran, before deciding to postpone military action to give the diplomatic track an additional chance.
For his part, Vance confirmed that Washington and Tehran had made some progress in the ongoing talks, but stressed at the same time that the United States remained ready to act if the negotiations failed.
Despite a slight decline in oil prices amid hopes of de-escalation, Brent crude remained above $110 a barrel, keeping inflation concerns alive in global markets.
US Treasury yields continued to rise, with the yield on 10-year bonds climbing to 4.687%, the highest level since January 2025, while the yield on 30-year bonds reached about 5.198%, levels not seen since 2007.
Analysts believe that higher returns enhance the appeal of safe, fixed-income assets, thus limiting demand for high-risk assets such as cryptocurrencies and technology stocks.
Investors have reduced their large bets ahead of Nvidia's quarterly earnings announcement, which is considered an important test of the continued strong momentum associated with the artificial intelligence sector that has supported global markets this year.
