Bitcoin advanced on Friday as crypto markets turned cautiously optimistic ahead of potential U.S.–Iran ceasefire talks, while expectations surrounding key inflation data kept sentiment restrained.
The world’s largest cryptocurrency gained 1.6% to $72,159.1 by 02:05 ET (06:05 GMT) and was on track for a 7.3% weekly rise, supported by improving risk appetite.
Bitcoin also drew support from hopes of more favorable U.S. crypto regulation, although progress on the CLARITY Act still appeared uncertain.
Ceasefire talks between the U.S. and Iran remained in sharp focus amid mixed and conflicting signals.
The discussions, reportedly scheduled to take place in Pakistan in the coming days, follow a conditional ceasefire agreement reached earlier this week. However, tensions quickly resurfaced as Iran accused the U.S. and Israel of violating the deal and called for Lebanon to be included in any broader peace framework.
Iranian state media also denied reports that its delegates had already arrived in Pakistan, saying negotiations would remain on hold until clearer assurances regarding Lebanon were provided.
Meanwhile, Iran’s continued restriction of shipping through the Strait of Hormuz drew criticism from U.S. President Donald Trump. Tehran has also floated the idea of imposing tolls on passage through the waterway, a proposal Washington has rejected.
The two sides remain deeply divided, with Iran resisting U.S. demands to halt its nuclear program and surrender uranium stockpiles. The ongoing uncertainty over the conflict and its economic implications has weighed on risk assets in recent weeks, though crypto markets have shown relative resilience compared to other sectors.
Crypto prices today: Altcoins gain as markets await CPI data
Broader cryptocurrency prices edged higher on Friday, mirroring Bitcoin’s gains, although upside was capped by caution ahead of key U.S. consumer price index (CPI) inflation data due later in the day.
Headline CPI inflation is expected to have accelerated in March, partly driven by rising global oil and gas prices amid the Iran conflict. Stronger inflation would reduce the Federal Reserve’s incentive to cut interest rates, a development typically negative for speculative assets.
Among major tokens, Ethereum (Ether), the world’s second-largest cryptocurrency, rose 0.1% to $2,184.32, while XRP gained 0.6% to $1.3411.
Meanwhile, Solana, Cardano, and BNB traded in a narrow range, alongside memecoins such as Dogecoin and $TRUMP, which also showed little movement.
Sources: Ambar Warrick
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