Iran Authorizes Government Talks as Bitcoin Reclaims $78,000

Iran’s Supreme Leader authorized government negotiations on Nov. 2, a political signal that coincided with Bitcoin’s return above $78,000 and gains in U.S. stock futures and precious metals.

President Masoud Pezeshkian said the leader had granted the government some authority to engage in dialogue. He also said military pressure would not force Iran to surrender and that the country was willing to resolve issues through talks.

At 9:11 a.m. ET (14:11 UTC), Bitcoin was quoted at $78,152. S&P 500 futures were up 0.6%, Nasdaq 100 futures rose 1% and Dow futures gained 0.8%.

Spot gold reached $3,930 an ounce, up 1.38% on the day, while spot silver touched $51, gaining 3.84%. Crypto, stock futures and precious metals were higher at the same time the authorization became public.

Iran’s Foreign Ministry said U.S.-Iran dialogue was continuing, with parliamentary speaker Mohammad Bagher Qalibaf leading negotiations and the Supreme National Security Council coordinating foreign policy. The authorization did not outline negotiating topics, limits or a timetable.