Bitcoin rebounded to $82,000 this morning after Donald Trump said the United States would not strike Iran before the November 3 midterm elections, CoinDesk reported.
The pledge defused the exact fear that hammered markets on Thursday. After Axios reported on October 7 that the Pentagon had instructed CENTCOM to prepare for resuming major combat operations in Iran, crude oil spiked and Bitcoin slid below $81,000, triggering nearly $1 billion in crypto liquidations. Ether fell nearly 4% to around $2,470, Solana dropped 6.5% to $109, and XRP lost 5.5% to $1.35, according to Delta Exchange derivatives analyst Piyush Walke.
The relief trade was immediate. WTI crude fell from $93.20 to around $90.70, and Bitcoin pushed back above $81,000 toward $82,000.
The takeaway is simple. This bounce was not bought on fundamentals. It was rented from one social post. Walke flags the $82,000 to $83,000 zone as the level Bitcoin now has to defend. That range capped rallies in May and September, and a failure to hold it puts the $78,000 to $79,000 support zone back in play. One post turned off the fear premium. If tensions flare again before November 3, that premium comes right back.
$BTC $ETH $SOL
The pledge defused the exact fear that hammered markets on Thursday. After Axios reported on October 7 that the Pentagon had instructed CENTCOM to prepare for resuming major combat operations in Iran, crude oil spiked and Bitcoin slid below $81,000, triggering nearly $1 billion in crypto liquidations. Ether fell nearly 4% to around $2,470, Solana dropped 6.5% to $109, and XRP lost 5.5% to $1.35, according to Delta Exchange derivatives analyst Piyush Walke.
The relief trade was immediate. WTI crude fell from $93.20 to around $90.70, and Bitcoin pushed back above $81,000 toward $82,000.
The takeaway is simple. This bounce was not bought on fundamentals. It was rented from one social post. Walke flags the $82,000 to $83,000 zone as the level Bitcoin now has to defend. That range capped rallies in May and September, and a failure to hold it puts the $78,000 to $79,000 support zone back in play. One post turned off the fear premium. If tensions flare again before November 3, that premium comes right back.
$BTC $ETH $SOL