Iran Accepts Two-Week Ceasefire With US After Pakistan Mediation
Iran's Supreme National Security Council declared the pause a victory, emphasizing the war hasn't ended. The ceasefire follows weeks of escalation that began February 28 when the US and Israel launched military actions against Iran.
Key Takeaway
Two-week pause buys time but Iran's war footing suggests crypto's geopolitical premium stays elevated.
Iran agreed to a two-week ceasefire with the United States after Pakistan's Prime Minister brokered the pause between the two nations. Iranian Foreign Minister Seyed Abbas Araghchi said attacks must halt for Iran's armed forces to cease defensive operations, and safe passage through the Strait of Hormuz would be possible during the period through coordination with Iranian military.
Iran previously rejected a ceasefire proposal that would have lasted 45 days, demanding a permanent end to hostilities instead. President Trump described Iran's 10-point proposal as a workable basis for negotiation on Truth Social, saying the US met its military objectives and advanced toward long-term peace with Iran and stability in the Middle East.
Iran's proposal includes lifting all sanctions, acceptance of its right to nuclear enrichment, withdrawal of all US forces from the region, and ending Israel's incursion into Lebanon. Trump had repeatedly set and extended deadlines for strikes on Iranian infrastructure including bridges and power plants before agreeing to the pause.
Crypto markets had tracked geopolitical tensions throughout the conflict, with safe-haven flows moving into Bitcoin during the heaviest fighting periods. Bitcoin held most gains during the announcement despite the uncertainty around whether the pause would hold beyond two weeks. Iran's Supreme National Security Council reported 14 million people volunteered to fight in response to the war.
This article was written based on reporting from BeInCrypto.
