Crypto Market Rises on US-Iran Diplomatic Progress

The cryptocurrency market saw a significant increase on Saturday as diplomatic developments between the US and Iran eased concerns over an extended geopolitical conflict.

A Bloomberg report revealed that U.S. officials had conceded to Iran's position on enrichment, indicating a shift in the negotiations' focus from suspension to technical aspects of Iran's atomic program.

According to Polymarket data, the odds of conflict by February 28 stood at 18%, while the likelihood was 61% by March 31. However, despite this progress, crypto traders continue to price in the possibility of a strike by the end of March, indicating that geopolitical risk remains present in market expectations.

Analyst Ted noted that Bitcoin is currently trapped between two significant liquidity zones, with bulls defending the $65,000 range while bears protect the $69,000 zone. While some analysts remain cautious, others suggest that a retest of $72,000 seems more probable.