Cryptocurrency markets and related equities posted sharp gains on Tuesday following multiple reports that Iranian President Masoud Pezeshkian expressed a readiness to end the current conflict. Bitcoin briefly climbed above $68,000 before pulling back, and was trading at $67,821 at the time of reporting, according to crypto price aggregator CoinGecko. That represents a roughly 1.9% increase compared to the same point the previous day. Ethereum outpaced Bitcoin’s gains, rising approximately 3.5% to just under $2,100.
Among individual stocks, crypto exchange Coinbase climbed nearly 9% from the opening bell, recently trading at $175. Bitcoin mining and AI hardware company Bitdeer saw its shares jump more than 12%, reaching as high as $8.98 before settling near $8.88. Chipmaker Nvidia also benefited, with its shares gaining 5% to reach $173.80. Broader indices followed suit, with the Nasdaq rising 3.63%, the S&P 500 climbing 2.7%, and the Dow up 2.32% on the day.
The news first appeared in The Kobeissi Letter at 12:45 p.m. Eastern Time on Tuesday, followed by a news alert from Bloomberg several minutes later. Approximately an hour after that, the Iranian government’s English-language account on X, Iran_GOV, shared a similar update. The account is described as an English-language version of the PadDolat account on the same platform.
According to the Iran_GOV post, Pezeshkian made the statement during a phone call with António Costa, president of the European Council. Costa confirmed the call on his own X account Tuesday morning. The Economic Times and Euro News also cited a statement released by the Iranian president’s office following the conversation. “We have the will to end this war—provided that necessary guarantees are in place to prevent any repetition of aggression,” Pezeshkian said, according to the Iran_GOV account.
The conflict began on February 28, at which point Bitcoin was trading near $64,000. Since then, the cryptocurrency has posted modest gains, while the S&P 500 and gold have fallen roughly 5.6% and 14%, respectively. Oil prices have spiked nearly 40% over the same period. Crypto-related equities have consistently been among the most reactive assets to war-related headlines throughout the conflict.
Analysts have suggested that a swift de-escalation could trigger a significant market rebound. Lacie Zhang, a research analyst at Bitget Wallet, told Decrypt earlier Tuesday that a rapid wind-down of hostilities “could unlock a strong risk-on rally,” with Bitcoin potentially surpassing $90,000. However, she cautioned that even a ceasefire would not be sufficient to sustain a prolonged bull run without institutional investment flows and greater regulatory clarity.
As of Tuesday midday, the White House had not issued any statement regarding Pezeshkian’s remarks, and President Donald Trump had not acknowledged them on his Truth Social account. Instead, Trump shared a graph from a McLaughlin & Associates poll showing 89% approval for his decision to use military force to remove Ayatollah Ali Khamenei from power.
Originally reported by Decrypt.
