Bitcoin rebounds to $82,800 as Trump rules out Iran strikes

Bitcoin climbed back to $82,813, up 2.05% over 24 hours, after President Trump ruled out a strike on Iran before the US midterms. CoinDesk reports the pledge helped Bitcoin recover after an overnight drop, though the coin is still lower on the week.

That is a turn from our last recap, when Bitcoin sat near $81,700 and was down about 2% on the day. The overnight dip came first. Cointelegraph reports Bitcoin fell below $81,000, triggering about $1.1 billion in liquidations as speculators sent 55,000 BTC to exchanges at a loss.

Bitcoin

CoinGecko data show Bitcoin traded between $80,427 and $83,398 over the past 24 hours. It is down 3.35% over seven days. Spot volume reached $32.6 billion. CoinDesk's day-ahead note said the Iran pledge left Bitcoin bears facing liquidation pressure. The same macro shift eased the dollar and lifted the yen, as our sister site covers in how currency markets reacted to Trump's Iran pledge.

Decrypt reports that analysts it spoke to cite support levels from $83,000 down to $72,000 after a bearish start to October. Chart: BTC/USD on TradingView.

Ether and the majors

All large caps rose on the day but remain down on the week. Cardano, which led losses in our last recap, posted the biggest 24-hour gain. Dogecoin and Solana carry the heaviest weekly losses.

Ether traded between $2,409.36 and $2,512.13. Chart: ETH/USD on TradingView.

Breadth and sentiment

Total crypto market value stands at $2.798 trillion, according to CoinGecko. Bitcoin dominance is 59.3% and Ether's share is 10.8%.

The Fear & Greed Index fell to 59 today from 64 yesterday. It is still in "Greed" territory, but it has dropped for three straight days from 73 on October 6.

News drivers

• Ledger theft probe. CoinDesk reports Ledger is investigating devices sold by a Southeast Asian reseller after reports of $86 million stolen from Bitcoin, Ethereum and Tron addresses. Decrypt says Ledger asked reseller CryptoBilis to pause sales and urged recent buyers not to set up their devices.
• ETF outflows. Cointelegraph reports Bitcoin ETFs lost $244 million on Thursday, while Ether funds extended their outflow streak to eight sessions, shedding $641 million.
• Miner moves. MARA transferred $81.1 million in Bitcoin to Galaxy Digital, according to CoinDesk, which notes the transfer does not confirm a sale.
• Enforcement. The UK sanctioned three crypto exchanges and two payment services over alleged Russia links, CoinDesk reports. New York's attorney general secured up to $35 million and a lifetime industry ban from ex-Celsius CEO Alex Mashinsky, per CoinDesk.
• Litigation. DWF Labs subsidiaries are suing BitGo for $141 million over alleged early token sales, CoinDesk reports.

What to watch next

1. Thailand ETF rules. New rules take effect October 16, letting local asset managers list Bitcoin and Ether ETFs, CoinDesk reports.
2. The 10/10 anniversary. Decrypt's Morning Minute asks whether the slide is a leverage flush or the start of a bigger selloff with the anniversary looming.
3. Ledger findings. Any update on the scope of the reseller issue.
4. French budget. Lawmakers backed a stablecoin swap tax in the 2027 budget bill, Cointelegraph reports.
5. Empire Market sentencing. Co-creator Thomas Pavey, who agreed to forfeit 1,584 BTC, is due to be sentenced this month, per Decrypt.