- Published on
Bitcoin rebounds to $82,000 as Trump rules out Iran strikes, oil drops
- Authors
- Name
- DeepHorus
Bitcoin rebounded to $82,000 on Friday after President Trump ruled out a US strike on Iran before the Nov. 3 midterm elections. The announcement eased geopolitical fears that had driven oil prices higher and cryptocurrencies lower. The broader crypto market recovered from late-Thursday lows.
The selloff began roughly 24 hours earlier amid fears of renewed US-Iran military escalation. Axios reported on Oct. 7 that the Pentagon had instructed US Central Command to prepare for major combat operations in Iran. That report lifted crude prices, with WTI futures rising from $89 to $93.20 before falling sharply after Trump's post.
Trump's Truth Social post at 12:17 p.m. ET said the US would not attack Iran prior to the midterms. He described discussions with Iran as "productive" but said the blockade would remain "in full force and effect." Bitcoin selling ran out of steam near $80,300, then recovered to $82,000. Other tokens like ether, XRP, and solana trimmed losses.
Meanwhile, fears over "bunker mode" calls added to Thursday's market pain. "Bunker mode" refers to migrating crypto holdings to fresh wallet addresses with unexposed public keys. Ethereum Foundation researcher Justin Drake floated the idea to reduce exposure if AI-accelerated mathematics weakened elliptic-curve cryptography before quantum computers break it.
Coinbase's top cryptographer Yehuda Lindell called the concerns "FUD," saying there was no evidence long-standing elliptic-curve assumptions had been broken. Dragonfly's Haseeb Qureshi described them as a "very sober call." Ethereum co-founder Vitalik Buterin said the risk from AI-accelerated mathematics is real but pointed to lattices rather than elliptic curves.
Analysts are watching $81,000 as key support and $82,000 as resistance. Vikram Subburaj, CEO of Giottus exchange, told CoinDesk that a break below $81,000 could take the market towards $80,000 and then $77,200. Purvang Mashru, lead analyst at BitDelta India, said a sustained reclaim of $82,000 with Ethereum above $2,500 would stabilize the setup, while a break below $80,316 would increase downside risk.
