Risk markets including bitcoin staged a late-day meeting after Axios reported Iran’s positive reception of Pakistan’s request for a two-week ceasefire.
“The president has been made aware of the proposal and a response will be forthcoming,” White House press secretary Karoline Leavit said when asked about the report.
Under heavy pressure earlier in the session, the Nasdaq rallied to close modestly in the green. Crypto followed suit with bitcoin climbing to $69,400 after slipping below $68,000 hours before.
Markets rallied on Tuesday after President Trump said “an entire civilization will die” if Iran did not open the Strait of Hormuz by his deadline of 7 p.m. 8 p.m. That remark prompted strong criticism from politicians and others who had previously supported his campaign and presidency, with some even calling for Trump’s impeachment.
