Markets flashed green Tuesday after reports that Iranian President Masoud Pezeshkian signaled he is “ready to end war,” sparking a broad risk-on move that lifted cryptocurrencies, crypto stocks and major U.S. indices.
Market moves at a glance
- Bitcoin briefly spiked above $68,000 before pulling back; CoinGecko shows BTC trading around $67,821 at the time of writing—about 1.9% higher than 24 hours earlier.
- Ethereum rose roughly 3.5% to trade just under $2,100.
- Crypto-related equities surged: Coinbase was up nearly 9% from the open, recently trading at about $175; Bitcoin miner/AI-hardware firm Bitdeer jumped more than 12%, hitting $8.98 intraday before settling near $8.88; Nvidia climbed about 5% to $173.80.
- U.S. stocks rallied broadly: Nasdaq +3.63%, S&P 500 +2.7%, Dow +2.32%.
What drove the moves
The initial report appeared in The Kobeissi Letter at 12:45 p.m. ET, followed by a Bloomberg news alert minutes later. About an hour after that, the Iranian government’s English-language X account, @Iran_GOV, posted that President Pezeshkian told European Council President António Costa in a phone call that “Iran has never sought tension or war. We have the will to end this war—provided that necessary guarantees are in place to prevent any repetition of aggression.” Costa confirmed the call on his own X account, and outlets including The Economic Times and Euronews cited a statement from the Iranian president’s office. Decrypt had not obtained the full text of that statement at the time of reporting.
Context and market implications
Bitcoin was trading around $64,000 on Feb. 28 when the war began and has seen modest gains since. By contrast, the S&P 500 and gold are down roughly 5.6% and 14% respectively over the same period, while oil has surged nearly 40%—a divergence that has made crypto and related equities especially sensitive to conflict headlines.
Analysts say a rapid de-escalation could unleash a strong “risk-on” rally. Lacie Zhang, research analyst at Bitget Wallet, told Decrypt that such a development could potentially push Bitcoin above $90,000, but she warned a mere ceasefire won’t guarantee a sustained bull run without fresh institutional inflows and clearer regulation.
Political reaction
The White House had not commented on Pezeshkian’s remarks, and former President Donald Trump had not acknowledged them on Truth Social; he posted a separate McLaughlin & Associates poll graphic midday showing high approval for using military force to remove Ayatollah Ali Khamenei.
Bottom line
Geopolitical headlines continue to move crypto and tech-related stocks sharply. Tuesday’s rally shows how quickly sentiment can reverse on signs of de-escalation, but analysts caution that broader, sustained gains will likely require more than a single diplomatic signal—namely, institutional capital and regulatory clarity.
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