Bitcoin price has recovered above $82,000 on Friday, October 9, after President Donald Trump ruled out U.S. military strikes against Iran before the November 3 midterm elections, easing concerns that had pushed the cryptocurrency toward $80,300.
- Bitcoin recovered above $82,000 after Trump ruled out attacking Iran before the November midterm elections.
- $244 million reportedly exited U.S. spot Bitcoin ETFs on October 8, extending recent selling pressure.
- Santiment reported $1.03 billion in realized Bitcoin profits, its second highest reading of the year.
- Analysts identify $82,500 as crucial weekly support, while resistance remains near $84,281 and $87,151.
According to CoinGecko data, Bitcoin (BTC) was trading near $82,365 during the latest price check, with a 24-hour trading volume of approximately $40.43 billion and a market capitalization of $1.65 trillion.
Despite recovering from Thursday’s lows, BTC remained roughly 5% lower over seven days, with recent selling pressure and continued withdrawals from U.S. spot Bitcoin exchange-traded funds (ETFs) weighing on the market.
Bitcoin price recovers as Trump rules out Iran strikes
Bitcoin’s recovery followed Trump’s October 8 statement that Washington would not launch new military attacks against Iran before the U.S. midterm elections.
“We will not be attacking Iran at any time prior to the Midterm Elections to be held in the United States on November 3rd,” Trump wrote on Truth Social.
The president described discussions with Iranian officials as “productive,” although he maintained that the U.S. blockade would remain in force. His comments provided some relief after reports of possible military escalation had unsettled financial markets earlier in the week.
Before the announcement, Bitcoin had struggled to maintain support above $82,000 as traders responded to renewed geopolitical concerns. Prices briefly approached $80,300 before recovering toward $81,000 on Thursday and extending gains above $82,000 on Friday.
The Bitcoin recovery following Trump’s Iran announcement coincided with a retreat in crude oil prices. Earlier, reports that the Pentagon was preparing for possible renewed operations against Iran had pushed oil futures higher and added pressure to risk assets.
WTI crude futures had climbed toward $93.20 before retreating after the president’s statement. On Friday, prices eased toward $90.40, while Brent crude fell to approximately $102.91 as concerns over immediate supply disruptions moderated.
Bitcoin’s recovery was accompanied by rebounds across several major cryptocurrencies, including Ethereum, XRP and Solana. However, the move had not erased the losses recorded earlier in the week.
Bitcoin ETF outflows and profit-taking pressure BTC
Institutional demand remained weak during the latest market decline, with U.S. spot Bitcoin ETFs recording another day of net withdrawals.
SoSoValue data supplied for October 8 showed approximately $244 million leaving spot Bitcoin ETFs, with Franklin Templeton’s Franklin Bitcoin ETF (EZBC) reportedly the only fund recording a net inflow.
The withdrawals followed a much larger $484.9 million outflow on October 7, the biggest daily net withdrawal since June. BlackRock’s IBIT accounted for $207.7 million of the earlier day’s losses, followed by withdrawals from Fidelity and ARK 21Shares products.
Ethereum investment products faced similar pressure. Spot Ether ETFs reportedly recorded $72.54 million in net withdrawals on October 8, extending their losing streak to eight consecutive trading sessions.
Selling activity was not limited to ETF investors. Blockchain analytics firm Santiment reported that Bitcoin holders had realized approximately $1.03 billion in profits, the second-highest daily amount recorded in 2026.
The figure came close to the year’s previous peak of $1.04 billion and followed Bitcoin’s recent advance above $87,000.
Santiment measures realized profit by comparing the value of Bitcoin when coins move on-chain with their value at the previous movement. The firm noted that elevated profit-taking can accompany periods of market cooling, although the reading does not establish that a prolonged decline will follow.
Bitcoin had approached $87,250 after weaker-than-expected September U.S. employment data, but the rally quickly reversed. The cryptocurrency fell below $84,000, briefly recovered toward $87,000 and encountered renewed selling before dropping toward $82,000.
The decline in Bitcoin ETF buying had already raised concerns among Bitfinex analysts, who reported that weekly inflows fell from $2.39 billion to $241.1 million during the week ending October 2.
Analysts warn Bitcoin could fall further below $82,500
Despite Friday’s rebound, cryptocurrency analysts continue to identify $82,500 as a crucial price level for determining Bitcoin’s next move.
Crypto analyst Rekt Capital said Bitcoin had fallen below the lower boundary of its previous 82,500–86,700 trading range after failing to reclaim the upper level.
The analyst argued that a weekly close above approximately $82,500 would help preserve the former trading range as support. A close below that level could leave Bitcoin exposed to further selling and a possible retest of the same price from underneath.
In a separate analysis, Rekt Capital said $82,500 could determine whether the cryptocurrency forms a new trading structure within its larger 60,000–80,000 range.
Meanwhile, crypto analyst Colin Talks Crypto identified a double-top pattern following Bitcoin’s repeated failures to sustain a recovery around $87,000.
“It’s a local topping pattern, followed by a break down,” the analyst wrote.
Colin cautioned that the formation does not necessarily mean Bitcoin must fall to a new cycle low. The pattern could instead precede a correction that establishes a higher low before another recovery attempt.
Bitcoin price technical analysis: Can BTC reclaim $84,281?
Bitcoin’s daily technical indicators continue to show limited buying strength despite the rebound from Thursday’s lows.
Based on the supplied daily chart, BTC traded near $82,402 after reaching an intraday high of $82,536. The price remained below the middle Bollinger Band at $84,281, while the lower band at $81,410 represented the nearest technical support.
A sustained recovery above $84,281 would place Bitcoin back above the indicator’s midpoint, with the upper Bollinger Band near $87,151 forming the next resistance area.
Before reaching those levels, buyers face resistance at $82,566 and $83,468. A daily close above the latter would open the way toward $84,432, while a rejection could return attention to the recent lows.
On the downside, the 80,328–81,684 range remains an important support zone, covering the October 8 low and closing price levels identified in the supplied analysis. A daily close below $80,328 would expose the 79,600–80,000 area, followed by the September 18 region near 76,200–77,000.
The Relative Strength Index (RSI) stood at 49.65, below its moving average of 60.73. The reading placed momentum slightly below the neutral 50 level, indicating that buying strength had weakened following Bitcoin’s rejection near $87,000.
However, the RSI remained above the oversold threshold of 30, meaning the indicator had not yet reached levels commonly associated with heavily oversold conditions.
The next confirmation will come from Bitcoin’s daily and weekly closing prices. Rekt Capital’s $82,500 weekly support test remains in focus, while the daily chart requires a recovery above $84,281 to show improving momentum.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
