Iran has reportedly suspended the entire 60-day negotiation process with the United States following Israel's strikes in Lebanon, according to Fars and Al-Mayadeen. U.S. Vice President JD Vance also postponed his trip to Switzerland, where the talks were scheduled to begin today. Both delegations were reportedly preparing to depart before the negotiations were abruptly called off.

This marks a sharp reversal in sentiment. Yesterday's peace headlines fueled risk-on momentum and pushed oil prices lower, but that trend could now reverse. Oil prices may climb again, while Bitcoin and the broader crypto market, which had rallied on easing geopolitical tensions, could come under renewed pressure. Short-term market volatility is likely to increase.