Risk markets, including bitcoin organized a rally late Tuesday after Axios reported Iran’s positive reception to Pakistan’s request for a two-week ceasefire.
“The president has been briefed on the proposal and a response will come,” White House press secretary Karoline Leavit said when asked about the report.
Under heavy pressure early in the session, the Nasdaq rebounded to close modestly in the green. Cryptocurrencies did the same, with bitcoin rising to $69,400 after falling below $68,000 hours earlier.
Markets got off on the wrong foot Tuesday after President Trump said “an entire civilization will die” if Iran doesn’t open the Strait of Hormuz by the 8 p.m. ET deadline. That comment drew sharp criticism from politicians and other figures who had previously supported his campaign and presidency, with some even calling for Trump’s impeachment.
