Bitcoin shorts face liquidation pressure, as Trump pledges not to strike Iran ahead of the midterm elections.
2026.10.09 19:26:11
US President Trump said he will not launch airstrikes on Iran ahead of next month’s midterm elections, easing market concerns over escalating tensions in the Middle East. In response, Bitcoin rebounded from its Thursday low of around $80,400 to near $82,500, putting short sellers under liquidation pressure. In terms of market prices, Bitcoin is currently trading at $82,486; Ethereum fell roughly 2% in 24 hours to near $2,500; SOL dropped nearly 4% to around $110, while XRP and HYPE remained relatively stable, with the CoinDesk 20 Index down approximately 2%. Alex Kuptsikevich, chief market analyst at FxPro, noted that Bitcoin dipped to $80,400 on Thursday, hitting a nearly three-week low and its 50-day moving average before securing buying support, indicating sustained buying demand during the pullback. In broader macro markets, S&P 500 futures rose less than 0.5%, while Nasdaq 100 futures gained nearly 1%; Brent crude oil fell below $103 per barrel, easing inflation concerns stoked by earlier oil price increases. Whether Bitcoin can stage a further rebound will depend on its upside resistance levels and developments in the Middle East.
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