Trump considers ending war with Iran boosts market, Bitcoin rises along with risk assets

During Asian trading on Tuesday, cryptocurrencies rose simultaneously with stocks and bonds as the market digested news that U.S. President Donald Trump is considering ending the war with Iran.
Bitcoin once rose 2.6%, hitting $68,335, and then gave up part of the gains. As of press time, it was trading around $67,500. Ethereum, the second largest cryptocurrency, rose 3.3% during the session, while Solana and XRP rose 2.2% and 1.5% respectively.
The market rebound came amid news that Trump told aides that the United States could end its military campaign against Iran without re-blocking the Strait of Hormuz, which could mean the conflict will end sooner than expected. S&P 500 futures reversed losses and rose about 1%.
“The market expects Trump to want to get out of the war,” said Pratik Kara, portfolio manager at digital asset hedge fund Apollo Crypto. “Bitcoin price shows extreme resilience near $68,000.”
Bitcoin held firm for much of March even as stocks and gold fell on inflation concerns stemming from an energy crisis that could result from a continued closure of the Strait of Hormuz. Gold is down more than 13% so far this month, while Bitcoin is up about 3%.