$BTC As long as there are no new clashes in the recent period, even without Iran declaring that negotiations have begun, a temporary ceasefire could still be priced in by risk markets, which would help significantly in easing sentiment.

Looking at Bitcoin's data, the turnover rate is not strong, and investor sentiment remains quite normal. Market participants may have already grown accustomed to the volatility brought by the war. Moreover, the price stability of $BTC around 70,000 has been quite solid, with accumulation consistently occurring in this range, and earlier investors show no signs of panic.
The current focus remains on how the war develops. If it can be completely resolved, the focus will shift back to tariff issues; however, the longer it drags on, the worse it is for risk markets.