Bitcoin circles $81.5K ETF cost basis as Trump Iran comments send stocks lower — SkimNews
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- Bitcoin dropped to $81,256 on Bitstamp, losing 2.9% amid a broader risk-off market mood stoked by renewed U.S.-Iran tensions.
- Trump stated the U.S. is 'not negotiating' with Iran and anticipates a resolution 'fairly soon,' contributing to stock market declines and a flight to safety.
- S&P 500 fell 1.3% and Nasdaq Composite dropped 2.3% at Wall Street open, reflecting investor caution ahead of midterms and geopolitical uncertainty.
- U.S. 10-year bond yield approached 5%, then dipped to its lowest since Sept. 23, as Treasuries gained appeal amid weakening risk appetite.
- Bitfinex Alpha analysts forecast BTC/USD to trade between $81,300 and $84,400 until the Federal Reserve's Oct. 28 meeting, citing stable ETF demand and leverage metrics.
- Kalshi traders reduced the odds of Bitcoin hitting new all-time highs by mid-January 2027 to just 3%, signaling diminished bullish sentiment on longer timeframes.
Why it matters: Bitcoin’s movement near its ETF cost basis at $81,5K coincides with macro-driven equity sell-offs, making short-term direction hinge on Fed policy expectations rather than crypto-native catalysts—shifting leverage from traders to central bank watchers.
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