Bitcoin Price: Trump Cancels Iran Envoy Trip, BTC Drops — Here’s What Happened

TLDR

• Bitcoin dipped below $78,000 following President Trump’s decision to call off a U.S. diplomatic mission to Pakistan intended for Iranian peace negotiations.
• BTC price hovered near $77,200, accompanied by a roughly 40% decline in 24-hour trading volume, which fell to $18 billion.
• Spot Bitcoin ETFs saw a nine-day inflow streak totaling $2.12 billion, concluding on April 24.
• Open interest for BlackRock’s IBIT options climbed to $27.61 billion, overtaking the $26.90 billion recorded on Deribit.
• Market analyst Ted Pillows identified the $76,000–$77,000 range as a critical support zone, with $80,000 serving as the next target for resistance.

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(SeaPRwire) –   On April 25, Bitcoin’s value slipped under $78,000 after President Donald Trump scrapped a scheduled diplomatic trip to Pakistan by U.S. envoys Jared Kushner and Steve Witkoff. The mission was aimed at initiating peace discussions with Iranian representatives. Trump remarked that the 18-hour journey was not justified, advising Iran to reach out to the U.S. if they wish to engage in negotiations.

The cancellation created uncertainty regarding the future of these talks, particularly as Iranian Foreign Minister Abbas Araghchi had already departed for Pakistan. Trump confirmed the move via Truth Social, pointing to perceived instability within the Iranian government.

BREAKING: President Trump just told me over the phone he has unilaterally cancelled Witkoff and Kushner’s trip to Pakistan to meet with the Iranians.

“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…

— Aishah Hasnie (@aishahhasnie) April 25, 2026

Following the announcement, BTC retreated from the $78,000 level to approximately $77,200, while daily trading volume dropped by about 40% to $18 billion. Despite this short-term decline, Bitcoin maintains a monthly gain of roughly 10%.

Crypto analyst Ted Pillows noted on X that Bitcoin is currently maintaining its position above key support levels. He suggested that as long as the $76,000–$77,000 range holds, the asset could push toward $80,000, though he cautioned that a breach of this support could trigger a more significant sell-off.

$BTC is holding above its support zone.

As long as $76,000-$77,000 support level holds, Bitcoin could have another move towards the $80,000 level.

Losing the $76,000 support zone could result in a bigger dump.

— Ted (@TedPillows) April 25, 2026

In comments to Axios, Trump clarified that the halted negotiations do not signal an intent to escalate military conflict with Iran. The existing ceasefire, originally slated to end on April 22, has been extended indefinitely until Iran provides a cohesive proposal.

Additionally, the U.S. has frozen $344 million in USDT assets associated with Iran and continues to enforce a blockade at the Strait of Hormuz, which Trump claims costs Iran roughly $500 million per day.

Bitcoin ETF Inflows Hit Nine-Day Streak

Spot Bitcoin ETFs enjoyed nine consecutive days of net inflows between April 14 and April 24, amounting to $2.12 billion. April 17 marked the peak of this period with $663.91 million in inflows, while BlackRock’s IBIT led the market even on the slowest day, Friday, with $22.88 million.

Total cumulative net inflows for spot Bitcoin ETFs have reached $58.23 billion. ETF expert Nate Geraci observed on X that investors continue to accumulate, describing them as “longer-term allocators” despite Bitcoin trading roughly 35% below its all-time high.

IBIT Options Surpass Deribit

On Friday, open interest for BlackRock’s IBIT options on the Nasdaq climbed to $27.61 billion, edging out the $26.90 billion in Bitcoin options held on Deribit. This is notable given that IBIT was introduced only two years ago, whereas Deribit has been active since 2016.

Current positioning in IBIT call options suggests market expectations for BTC to reach approximately $109,709 in the near term, while Deribit’s data reflects a slightly more conservative outlook of $106,000.

At the time of writing, Bitcoin was trading at approximately $77,516, according to data from CoinMarketCap.