Bitcoin rises past $69,000 as risk markets reverse big early losses on hope for Iran deal
Iran’s government is reportedly reviewing Pakistan’s request for a two-week ceasefire positively, according to an Axios report.
Apr 7, 2026, 8:18 p.m.
Risk markets, including bitcoin BTC$71,637.90, staged a late-day rally Tuesday after Axios reported Iran’s positive reception to Pakistan’s request for a two-week ceasefire.
“The President has been made been aware of the proposal, and a response will come,” said White House Press Secretary Karoline Leavit, 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 BTC$71,637.90 climbing to $69,400 after sliding below $68,000 hours prior.
Markets got off on the wrong foot Tuesday after President Trump said “a whole civilization will die,” if Iran didn’t open the Strait of Hormuz prior to his 8 pm ET deadline. That remark prompted strong criticism from politicians and other figures who had previously supported his campaign and presidency, with some even calling for the impeachment of Trump.
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Risk assets rose late Tuesday as oil collapsed after Trump and Iran confirmed the two-week ceasefire.
What to know:
- Bitcoin jumped to $72,700, with broader crypto and U.S. stock futures rallying after former President Donald Trump announced a two-week cease-fire with Iran.
- Oil prices tumbled more than 10%, with West Texas Intermediate crude falling to about $95 a barrel as the cease-fire eased fears over disruptions in Middle East…
