The crypto market dipped sharply after U.S.-Iran negotiations failed to reach a ceasefire agreement, with $123 million liquidated across the board in the past four hours.

TechFlow News, April 12: According to Cryptonews, U.S. Vice President J.D. Vance stated that U.S. and Iranian negotiators failed to reach an agreement on extending the ceasefire following a full-day meeting held in Pakistan. Crypto markets reacted with a short-term pullback, likely influenced by this news: Bitcoin briefly dropped to approximately $71,600; Ethereum fell to around $2,200; and XRP declined to $1.33—major assets all registering losses of nearly 2%. After the meeting, Vance noted that the U.S. side had clearly articulated its bottom line—including Iran’s commitment not to pursue nuclear weapons or related capabilities—but differences remain unresolved. Market analysts attribute the weekend’s crypto correction primarily to heightened risk-aversion sentiment triggered by the breakdown in negotiations.

Data from Coinglass shows that $123 million in liquidations occurred across the entire market over the past four hours, including $116 million in long-position liquidations and $6.89 million in short-position liquidations. Additionally, Bitcoin accounted for $50.43 million in liquidations, while Ethereum accounted for $36.76 million.