Bitcoin rose from $77,400 to $78,400 on Friday morning amid speculation of a breakthrough in US-Iran discussions.

Sentiment improved after reports that Abbas Araghchi, Iran’s top diplomat, is scheduled to visit Pakistan, Oman and Russia starting Friday, in a trip that may open the door to renewed diplomatic engagement over the conflict.

According to state media IRNA, the visit will involve bilateral consultations and discussions on regional developments, including the latest situation in the war Tehran says has been imposed by the US and Israel.

Senior officials in Islamabad said Araghchi’s visit followed a series of high-level calls between the Iranian and Pakistani leadership.

While Iranian state media said the trip is mainly bilateral, Pakistani officials suggested there is now a “high likelihood of a breakthrough” following days of heightened tensions around the Strait of Hormuz. However, Iran has signaled resistance to immediate talks with the US.

The anticipated talks are coming after early-stage negotiations in Islamabad that failed to produce an agreement, and momentum stalled soon after when planned follow-up talks were delayed due to uncertainty over Iranian participation.

US–Iran talks may resume today, Trump says

Bitcoin broke above $79,000 earlier this week as traders bet that a new round of US-Iran talks could help stabilize markets shaken by prolonged geopolitical tensions.

According to the New York Post, President Donald Trump said a fresh round of negotiations may begin in Pakistan as soon as Friday and Steve Witkoff and Jared Kushner would lead the effort.

Trump has signaled confidence in reaching a deal but has also warned of further military action as the current ceasefire nears its end.

Trump said Thursday there is no urgency in reaching a deal with Iran. US officials emphasized that Washington is willing to take its time and is not under pressure to agree quickly.