Crypto09 October, 20262 min read
Bitcoin Rebounds Near $82,500 After Donald Trump Rules Out Iran Attack Before Midterms
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Bitcoin around $82,500 after Trump says U.S. will not attack Iran before midterms Bitcoin climbs back to around $82,000 as Iran attack fears ease
8 outlets told this the same way.
Trump eases Iran fears
Bitcoin rebounded to around $82,000 after President Donald Trump said the United States would not attack Iran before the Nov. 3 midterm elections, easing fears that had pushed prices down toward $80,300.
Trump said in a Truth Social post, "We will not attack Iran at any time before the Midterm Elections to be held in the United States on November 3," and he described talks with Iran as "productive," while saying the U.S. embargo would remain "in full force and effect."
Bitcoin recovered to around $82,500 after Trump’s comments, while Ether slid 9% over the week to around $2,500.
Derivatives positioning showed Bitcoin futures open interest slipping 1.9% over 24 hours to $27.1 billion, and liquidations totaled $1.09 billion over the past 24 hours with longs accounting for $931 million.
The Defiant said bitcoin rebounded above $81,000 after Trump ruled out Iran strikes before midterms, while it also said crude retreated around the president’s statement.
Debate over crypto “bunker mode”
Ethereum Foundation researcher Justin Drake’s call for a “bunker mode” spurred negative sentiment alongside Thursday’s selloff, and Coinbase’s chief cryptographer Yehuda Lindell dismissed the concerns as “FUD.” Derivatives positioning showed Bitcoin futures open interest slipping 1.9% over 24 hours to $27.1 billion, and it said liquidations totaled $1.09 billion over the past 24 hours with longs accounting for $931 million. CoinDesk also quoted Dragonfly’s Haseeb Qureshi describing the warning as a “very sober call,” and it said Vitalik Buterin noted that the risk from AI-accelerated math is real but pointed to lattice instead of elliptic curves.
Analysts were watching $81,000 as a key support for Bitcoin, and it quoted Vikram Subburaj saying, "For investors, $81,000 is the immediate level to watch." BitDelta identified $82,000 as the key resistance and quoted Purvang Mashru saying, "A sustained rebound above $82,000 with Ethereum surpassing $2,500" would stabilize the situation.
Market focus shifts to next steps
Investors and traders shifted attention from the immediate shock to what happens next in the U.S.-Iran diplomacy, with CoinDesk saying the focus was on Tehran’s response to Washington’s proposal and on next week’s U.S. CPI report.
CoinDesk’s macro framing tied the rebound to Trump’s comments about Iran and said the move reversed some of the macro headwinds that had weighed on Bitcoin, while it also said a positive outcome could push oil prices lower and support a larger Bitcoin rebound.
Trump reiterated that the U.S. blockade would remain in place and repeated his position that Iran must not obtain a nuclear weapon, while Bitcoin climbed back above $81,000 following his statement.
Iran’s Foreign Minister Abbas Araqchi told reporters, "We are currently reviewing the Americans’ views, and I think we will present our response within the next few days," as markets priced in the possibility of de-escalation.
Starknet’s STRK jumped 33% after the network said it is considering leaving Ethereum to become a standalone layer-1 blockchain, targeting full quantum resistance by 2027, even as it said the plan has yet to be approved.