Bitcoin rebounded to $82,000 on Friday as the broader crypto market recovered from late-Thursday lows, with President Donald Trump’s comments easing fears of an imminent U.S. strike on Iran.
Trump said the U.S. would not attack Iran before the Nov. 3 midterm elections.
“We will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd,” Trump said in a Truth Social post, published at 12:17 p.m. ET.
He described discussions with Iran as “productive,” but said the U.S. blockade would remain “in full force and effect.”
Bitcoin selling appeared to run out of steam near $80,300 following the post, and prices have since steadily recovered to $82,000. Other major tokens followed a similar trajectory, with ether, XRP, solana and several other cryptocurrencies trimming Thursday’s losses.
The selling began roughly 24 hours earlier amid fears of renewed military escalation between the U.S. and Iran, which pushed oil prices higher.
Axios reported on Oct. 7 that the Pentagon had instructed U.S. Central Command to prepare for resuming major combat operations in Iran. The report lifted crude prices: futures tied to WTI crude rose from $89 to $93.20 before falling sharply after Trump’s Truth Social post. At the time of writing, crude futures traded at $90.69.
Meanwhile, fears over “bunker mode” calls, which added to the market pain Thursday, are being challenged.
“Bunker mode” refers to a precautionary, controlled migration of crypto holdings to fresh wallet addresses whose public keys have not previously been exposed on-chain.
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