Bitcoin slips toward $81.5K as Iran remarks weigh on risk assets
Bitcoin traded near $81,500, down about 3%, after President Donald Trump said the United States was not negotiating with Iran. U.S. stocks fell at the open, with the S&P 500 down 1.3% and the Nasdaq Composite down 2.3%, while Treasury yields declined as investors sought safer assets. Analysts expect Bitcoin to stay between $81,300 and $84,400 until the Federal Reserve’s Oct. 28 meeting.
Bitcoin changed hands around $81,500 on Thursday, roughly 3% lower, after touching $81,256 on Bitstamp near the U.S. stock-market open, TradingView data showed. The move followed a Wednesday advance toward $85,000 and placed the token close to the approximate $81,500 cost basis of U.S. spot Bitcoin ETFs.
Trump’s comment that the United States was not engaged in talks with Iran weighed on risk appetite. The S&P 500 lost 1.3% and Nasdaq 2.3% early on, while the 10-year Treasury yield hit its lowest since Sept. 23. Bitfinex Alpha sees a $81,300–$84,400 range before the Fed’s Oct. 28 meeting.
The drop could affect retail crypto holders and ETF investors through mark-to-market losses, while weaker equities may hit retirement and brokerage balances. Lower Treasury yields may help borrowers if they feed through to other rates, but could reduce income for savers. Broader uncertainty may dampen risk-taking and spending, though the Fed meeting could shift sentiment.