You may not receive the offer you wanted, but the current offer on the table is still worth considering. You don't have to accept it, but you don't have to ignore it completely, either.
When we look back and reflect on our lives so far, we usually find that our biggest regrets are the things that we did not do - the risks we didn't take, the challenges we didn't face and the adventures that we were too scared to have. It's ironic that we spend so much of our daily lives regretting the mistakes that we have made, only to discover later that what we really regret are things that we didn't do. This is a time to put aside your regrets and live a little.
It's easier to ignore a deadline that you have set yourself than one that has been set by someone else.