Bitcoin falls after Trump reportedly canceled Steve Witkoff and Jared Kushner's Iran-talks trip

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Bitcoin falls after Trump reportedly canceled Steve Witkoff and Jared Kushner's Iran-talks trip Trump is expected to speak at his crypto conference in Palm Beach shortly. What to know: - Bitcoin slipped about $100 to $77,351 late Friday morning after former President Donald Trump said he had halted a planned diplomatic trip tied to Iran talks. - Trump canceled a trip by envoys Steve Witkoff and Jared Kushner, who had been expected to travel to Pakistan for a new round of discussions involving Iran. - The pullback in bitcoin was modest, suggesting traders saw it as a short-term geopolitical risk rather than a change in the broader market outlook, as they await further U.S. and Iranian statements and Trump’s scheduled speech at a crypto conference. Bitcoin The largest cryptocurrency dropped about $100 to $77,351 just before noon ET, reversing a modest earlier gain. The move came minutes after a Fox reporter posted Trump’s remarks on X, where he said he had canceled a trip by envoys Steve Witkoff and Trump's stepson, Jared Kushner. “I've told my people a little while ago they were getting ready to leave, and I said, ‘Nope, you're not making an 18 hour flight to go there. We have all the cards. They can call us anytime they want, but you're not going to be making any more 18 hour flights to sit around talking about nothing’,” Trump said, according to the post. Witkoff and Kushner had been expected to travel to Pakistan for a new round of talks involving Iran. The shift came only hours after Abbas Araghchi, Iran’s foreign minister, left Pakistan, a detail that had fueled disappointment over expectations for near-term discussions. However, the decline in BTC was limited, suggesting markets viewed the development as a short-term risk signal rather than a shift in the broader outlook. Market participants will likely watch for follow-up statements from U.S. officials and any response from Iran. Trump is expected to speak at a crypto conference in Palm Beach around noon Eastern time. More For You Mean-reversion models suggest bearish targets imply a 0.4th percentile event, far beyond typical market corrections. What to know: - A drop to $40,000 would place bitcoin in the 0.4th percentile of historical price deviations, making it one of the most statistically extreme events on record. - At around $78,000, bitcoin currently sits near the 31.5th percentile, indicating a historically weak, but still normal, correction range.

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