Bitcoin remains under pressure below $63K as US-Iran negotiation uncertainty persists

Key takeaways

• Bitcoin remained under pressure after Iran announced that it would not permit inspectors from the International Atomic Energy Agency (IAEA) to access its damaged nuclear facilities, 
• The leading cryptocurrency has dropped to the $62,300 level, down 3.5% in the last 24 hours. 

Bitcoin (BTC) continued to trade below the $63,000 level on Tuesday as mixed signals from the United States and Iran regarding nuclear negotiations kept geopolitical tensions elevated. At the same time, ongoing institutional selling and continued outflows from spot Bitcoin exchange-traded funds (ETFs) limited the cryptocurrency’s upside potential despite diplomatic efforts.

Conflicting US-Iran signals weigh on market sentiment

Bitcoin remained under pressure after Iran announced that it would not permit inspectors from the International Atomic Energy Agency (IAEA) to access its damaged nuclear facilities, raising fresh concerns about the progress of ongoing negotiations.

Iranian Foreign Ministry spokesperson Esmaeil Baghaei stated that no meeting had taken place betwee...