The US and Iran this time seem more like negotiating while fighting, neither side intends to push the situation into chaos all at once, but neither has found a way to end things gracefully either. In the short term, this state won't immediately ease market sentiment; risk premiums will still be there, and mainstream assets like $BTC and $ETH are more likely to come under pressure first. The real key is not whether there is negotiation, but whether the talks can hold back the risk of escalation.