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Bitcoin declined on Saturday, trading above $74,000,
as investors remained cautious amid ongoing geopolitical tensions in the Middle East and uncertainty over cryptocurrency regulation in the United States.
The world's largest cryptocurrency fell 3.42% to $74,654.2 by 12:15 PM, extending a weak weekly performance after failing to reclaim the key resistance level of $78,550 earlier this week.
Market sentiment remained fragile as traders monitored developments surrounding the US-Iran talks and awaited further signals from American policymakers regarding digital asset regulation.
Risk appetite in crypto markets was dampened by renewed concerns that geopolitical tensions could escalate if diplomatic talks between Washington and Tehran reach an impasse.
US President Donald Trump stated that negotiations with Iran are in the "final stages," warning that Washington could take a more aggressive stance if an agreement is not reached.
Meanwhile, Iranian President Masoud Pezeshkian reiterated his support for diplomacy but rejected what he called Western coercion.
Macroeconomic uncertainty also weighed on sentiment after minutes from the Federal Reserve's latest meeting showed policymakers remain open to further interest rate hikes if inflation remains high.
Despite the cautious mood, Bitcoin continued to trade in a relatively tight range between $74,000 and $78,000.
Analysts noted that falling oil prices and lower bond yields earlier in the week provided temporary support for crypto markets.
Meanwhile, regulatory changes remained in focus in Washington after lawmakers introduced a revised Bitcoin Strategic Reserve bill that lowered the government's target for Bitcoin acquisition while introducing stricter custody requirements.
The proposal is part of the Trump administration's broader efforts to strengthen the role of digital assets in the US financial system.
Separately, the US Securities and Exchange Commission postponed consideration of a proposed exemption system related to tokenized assets and third-party token offerings, according to reports earlier this week.
Nevertheless, some analysts believe Bitcoin's resilience near current levels reflects continued long-term institutional interest despite increased volatility.
Market participants are also closely monitoring spot Bitcoin ETF flows and overall risk sentiment ahead of the holiday-shortened trading week.