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) experienced a 3% decline in value, as US stocks faced pressure from President Donald Trump's comments on Iran's potential military action. BTC struggled to stay above $82,000 during Thursday's Wall Street opening, as Iran-related headlines resurfaced to undermine risk assets. BTC/USD dipped to $81,256 on Bitstamp, marking a 2.9% decrease for the day.
Analysts at Bitfinex Alpha had previously predicted BTC/USD trading within a narrow range of $81,300 to $84,400 until the Federal Reserve's next meeting on October 28. Sustained demand for ETFs, coupled with stable leverage metrics, could propel BTC/USD above $84,400. However, macroeconomic headwinds and a close below $81,300 might trigger a move towards the October 15 low of $79,821, as indicated by the analysts.
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