Bitcoin Rebounds to $82K as Trump Eases Iran War Fears

Bitcoin recovered to $82,000 on Friday as cryptocurrency markets rebounded following President Donald Trump's announcement that the United States would not launch military strikes against Iran before the November 3 midterm elections.

The announcement eased geopolitical tensions that had pressured Bitcoin and other major cryptocurrencies during Thursday's selloff.

In a Truth Social post, Trump confirmed that Washington would refrain from attacking Iran before the elections. He also described ongoing negotiations with Tehran as productive, although the U.S. blockade would remain in effect.

Following his remarks, Bitcoin stabilized near $80,300 before climbing toward $82,000. Ethereum, XRP, Solana and other major altcoins also recovered some of their earlier losses.

The cryptocurrency market downturn began after reports suggested renewed U.S. military operations against Iran were possible. Axios reported on October 7 that the Pentagon had directed U.S. Central Command to prepare for potential large-scale combat operations.

The report triggered a surge in oil prices, with West Texas Intermediate crude futures jumping from $89 to $93.20. Prices subsequently retreated following Trump's announcement, with crude trading around $90.69.

Meanwhile, cryptocurrency investors continued assessing concerns surrounding so-called "bunker mode," a precautionary strategy involving the transfer of digital assets into new wallets with previously unexposed public keys.

Ethereum Foundation researcher Justin Drake raised the possibility that advances in artificial intelligence could weaken existing cryptographic protections before quantum computers become powerful enough to threaten blockchain security.

However, Coinbase cryptographer Yehuda Lindell dismissed the immediate concerns as unfounded, while Ethereum co-founder Vitalik Buterin acknowledged potential mathematical risks without suggesting that elliptic-curve cryptography had already been compromised.

Market analysts are now closely monitoring Bitcoin's critical support and resistance levels.

Vikram Subburaj, CEO of cryptocurrency exchange Giottus, identified $81,000 as immediate support. A decline below that level could push Bitcoin toward $80,000, followed by stronger on-chain support near $77,200.

On the upside, analysts highlighted $83,300 and $85,500 as important recovery targets, particularly if cryptocurrency exchange-traded funds attract stronger inflows.

BitDelta analyst Purvang Mashru identified $82,000 as a crucial resistance level. Sustained trading above that price, alongside Ethereum holding above $2,500, could strengthen market stability.

However, a drop below $80,316 could renew selling pressure, leaving Bitcoin vulnerable to further declines despite improving geopolitical sentiment.