Bitcoin rebounded sharply after nearing the $80,000 mark, with the latest news fueling market sentiment being a sudden softening in U.S. President Donald Trump’s policy toward Iran.
On the 8th, Trump said the United States would not launch new military attacks on Iran before the November 3 midterm elections, adding that Washington was having “productive discussions” with Tehran. The news briefly eased tensions in the Middle East, sending oil prices lower and helping Bitcoin rebound quickly from its intraday low.
According to the latest Binance market data, BTC briefly fell to a 24-hour low of $80,336.91 before rebounding to around $82,000. Its 24-hour high was about $83,227, and it is still down approximately 1% from the previous day.
Trump makes it clear: No more attacks on Iran before the election
Trump most recently said the U.S. has no plans to attack Iran before the midterm elections.
Reuters reported that Trump said the U.S. and Iran are engaged in constructive talks and that he hopes to end the conflict, which has lasted for months. However, Washington’s economic blockade and sanctions against Iran remain in place, and the U.S. has not abandoned its policy of preventing Iran from acquiring nuclear weapons.
The U.S.-Iran conflict has not officially ended. Rather, the risk that had worried markets most—that the U.S. might launch another direct attack on Iran in the near future—has temporarily eased. Trump ruled out a new U.S. military attack before the November 3 election, but did not promise that there would be no military action afterward. Geopolitical risks in the Middle East have therefore cooled, but have not disappeared.
BTC quickly rebounded after falling to $80,337
Before Trump’s remarks, the crypto market had just experienced another sell-off. BTC briefly fell as low as $80,336.91, leaving it only about $337 above the closely watched psychological threshold of $80,000.
After Trump ruled out an attack on Iran before the election, Bitcoin rebounded to around $82,000. Oil prices also retreated from their highs, reflecting reduced market concerns about a short-term escalation in geopolitical tensions. Trump’s remarks served as a catalyst for an improvement in short-term risk sentiment, but Bitcoin was already near the key $80,000 support level, and short covering and technical buying may also have amplified the rebound.
Oil prices also retreat, but Brent remains above $103
Trump’s remarks had a more direct impact on energy markets.
According to the latest Reuters data, Brent crude fell about 0.7% to $103.53 a barrel, while West Texas Intermediate (WTI) dropped about 0.6% to $90.97. The market attributed some of the pullback to the U.S. temporarily ruling out a new attack on Iran, slightly reducing the risk of disruptions to Middle Eastern oil supplies.
In the previous trading session, Brent crude surged more than 4% to close at $104.28, while WTI closed at $91.49.
High oil prices have recently been a major headwind for risk assets such as Bitcoin, since rising energy prices could fuel inflation and make it harder for the Federal Reserve to cut interest rates. Trump’s remarks have lowered two short-term risks—military escalation and disruptions to energy supplies—providing some support for sentiment in the crypto market.
The $80,000 alert is still in effect
Although BTC has rebounded from around $80,337 to near $82,000, the market structure has not yet truly turned bullish. Bitcoin remains below its 24-hour high of around $83,227 and has yet to reclaim the $83,000 area it previously lost.
In the short term, there are three levels to watch. $82,000 is currently the battleground between bulls and bears. If BTC can hold above it, that would indicate buyers are still stepping in around $80,000. The $83,000–$84,000 range is the first resistance zone BTC needs to reclaim. Only if it can establish a foothold above this range will there be a better chance of confirming that the sell-off has temporarily run its course. Conversely, if BTC falls below $81,000 again, yesterday’s low of around $80,337 will be retested, and the battle to defend $80,000 will intensify once more.
ETFs see $485 million in outflows in a single day, raising concerns about spot buying
BTC’s rebound has not erased another risk in the spot market. U.S. spot Bitcoin ETFs recorded $484.9 million in net outflows on October 7, their largest single-day withdrawals since June 25. BlackRock’s IBIT saw $207.7 million in outflows, Fidelity’s FBTC saw $105.1 million, and ARK 21Shares’ ARKB saw $101.7 million.
BTC is therefore facing two opposing forces. On one hand, Trump’s ruling out an attack on Iran before the election has reduced short-term geopolitical risk. On the other, ETF flows remain weak, oil prices are still above $100, and global markets continue to face pressure from high yields and declining risk appetite.
Even with Trump ruling out an attack on Iran before the election, global investors remain cautious about high energy prices, elevated bond yields, and risks in the technology sector.
“Did one remark from Trump send Bitcoin higher? BTC rebounds from the brink of $80,000 to $82,000 after he rules out an attack on Iran before the election” was originally published on BlockTempo.