Trump's Iran pledge underpins crypto gains as bitcoin bears face liquidation pressure
Bitcoin prices stabilized following Donald Trump's comments regarding Iran, which eased market tensions. Meanwhile, broader financial markets showed recovery as tech companies like OpenAI projected significant revenue growth.
Why it matters
Demonstrates the sensitivity of cryptocurrency and global markets to geopolitical statements and corporate earnings reports.
Bitcoin BTC $82,526.53 held near $82,600 after President Donald Trump said he would not strike Iran before the U.S. midterm elections, pulling the largest cryptocurrency off Thursday’s low of roughly $80,400 and turning the liquidation pressure onto bearish traders .
Ether ETH $2,491.40 slipped 2% over 24 hours to about $2,500, still nursing the worst of Thursday’s flush, when ether bets were wiped out at six times bitcoin’s rate relative to its market value.
SOL was the laggard among the major coins, losing nearly 4% over the same period to around $110, while XRP and HYPE were little changed. The broader CoinDesk 20 index slipped about 2%.
Thursday’s dip tested a level traders watch for the medium-term trend.
Also covering this story
12 other newsrooms covered this event. We read each version separately.
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