Bitcoin circles $81.5K ETF cost basis as Trump Iran comments send stocks lower
Bitcoin extended daily losses to 3% as US stocks came under pressure from President Donald Trump’s comments on Iran military action.
Bitcoin (BTC) stayed below $82,000 around Thursday’s Wall Street open as Iran war headlines returned to pressure risk assets.
Key points:
- Bitcoin preserved 3% daily losses on Thursday as US stocks fell on geopolitical tensions.
- US President Donald Trump reiterated the chance of new military action against Iran, with no negotiations ongoing.
- BTC price analysis saw $84,400 as a short-term ceiling ahead of the Oct. 28 Federal Reserve meeting on interest rates.
Data from TradingView showed BTC/USD hitting $81,256 on Bitstamp, down 2.9% on the day.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Mixed reactions to Tesla earnings and capital expenditures combined with a risk-off mentality stoked by fresh comments from Trump that the US was “not negotiating” with the Iranian side.
“We are going to have something one way or the other that will happen fairly soon. Most people seem to think it’s after the election and we’ll see what happens,” he told reporters, referring to the US midterm elections on Nov. 3.
US stocks fell at the open, with the S&P 500 Index down 1.3% at the time of writing. The tech-heavy Nasdaq Composite Index was 2.3% lower.