Bitcoin and other cryptocurrencies were rising Friday. News that U.S. and Iran are set to start talks in Pakistan this weekend have boosted hopes of a lasting peace which could help the crypto sector.

Bitcoin was up 1.2% at around $71,854 early Friday. The largest cryptocurrency has risen from levels of around $69,000 at the start of the week.

Cryptocurrencies have generally traded as high-volatility risk assets in recent months and have dropped amid fighting in the Middle East. Bitcoin is down sharply from its record high of above $126,000 back in October last year.

"Geopolitical factors have now become a primary driver of Bitcoin's direction, a shift that was not as pronounced in previous market cycles, " wrote Simon Massabni, an analyst at XS.com, in a research note. "I expect that as long as this uncertainty persists, the market will remain range-bound to slightly bearish in the short term."

Among other cryptos, Ethereum was up 0.2%, XRP was rising 0.6% and Solana was gaining 1.2%.

Write to Adam Clark at adam.clark@barrons.com

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source: https://www.tradingview.com/news/DJN_DN20260410001783:0/