Last Night's Market Recap: Despite Several Twists and Turns, US-EU Manage to Resume Negotiations, Bitcoin Hits New Bear Market Low, Nasdaq Falls 1.5% Dragging Down Crypto Stocks

BlockBeats News, February 5th. The U.S. and Iran had previously agreed to meet in Istanbul on Friday, with other Middle Eastern countries participating as observers. However, Iran indicated on Tuesday that it wished to change the negotiation location to Oman and hold the talks in a bilateral format to ensure a focus solely on the nuclear issue. U.S. officials initially showed openness to the request for a location change but later rejected it.

Subsequently, at least nine countries in the Middle East contacted the White House through diplomatic channels to persuade the Trump administration not to follow through on its threat to withdraw from the negotiations. The final nuclear talks are scheduled to take place in Muscat, the capital of Oman, around 10 a.m. local time on Friday (2 p.m. Beijing time on the 6th).

Possibly affected by the U.S.-Iran nuclear negotiation turmoil, Bitcoin set a new low for this bear market twice early this morning, dropping to a minimum of $71,888 (further dropping to a new low of $71,680 at the time of writing). The Nasdaq fell by 1.5%, AMD (AMD.O) dropped by 17.3%, Tesla (TSLA.O) fell by nearly 4%, Nvidia (NVDA.O) dropped by over 3%. Cryptocurrency stocks also experienced a synchronous decline, with Coinbase (COIN) falling by 6.14%, Bitmine (BMNR) falling by 9.17%, BTCS Inc (BTCS) falling by 11.74%, and ALT5 Sigma (ALTS), supported by the Trump family, falling by 18.1%.

According to Coinglass data, there was a total of $537 million in liquidations across the entire network in the past 12 hours, with $436 million in long liquidations and $101 million in short liquidations.