U.S. equities and Bitcoin rallied on Wednesday amid optimism over a potential de-escalation in the U.S.-Iran conflict. The Nasdaq Composite and S&P 500 indexes closed at record highs, while Bitcoin’s price surpassed $75,000, extending its recent gains. Market sentiment was bolstered by comments from the White House suggesting the war was nearing its end.
U.S. equities and tech stocks gained on Wednesday as investors looked optimistically to a de-escalation of the U.S.-Iran war. The price of Bitcoin tapped $75,000 amid broader positive momentum across the crypto market.
According to data from Yahoo Finance, the tech-heavy Nasdaq Composite hit a new all-time high. The S&P 500 tagged its own record high after notching a slight gain of 0.8%.
The indexes’ performance was led by a 2.08% gain in tech stocks overall. Meanwhile, Bitcoin hit $75,229 on Wednesday, rising 1.07% over the past 24 hours.
The tech and crypto gains come amid suggestions from the White House that the conflict may be ending. President Donald Trump told Fox Business on Wednesday that he views the war as “very close to being over.”
Trump, however, indicated that this still depends on whether a deal can be struck. “If I pulled up stakes right now, it would take them 20 years to rebuild that country. And we’re not finished,” he said.
“We’ll see what happens. I think they want to make a deal very badly,” he added. Commenting on the S&P 500’s recent gains, Fundstrat‘s chief investment officer, Tom Lee, said there’s more room for growth.
Lee argued in a post on X that “stocks bottom on bad news,” not good news. However, he said he expects the next leg of the rally to be led by crypto assets such as Bitcoin and Ether, along with tech stocks.
