Oct 9, 2026, 7:09 a.m. EDT
3 min read
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Bitcoin BTC$83,133.70 stayed close to $82,600 after President Donald Trump announced he would refrain from attacking Iran prior to the U.S. midterm elections, which lifted the primary cryptocurrency away from Thursday’s low of around $80,400 and shifted liquidation pressure onto short sellers.
Ether ETH$2,504.55 declined by 2% over a 24-hour period to approximately $2,500, continuing to recover from the worst of Thursday’s steep sell-off, when ether long positions were eliminated at six times the rate of bitcoin relative to its total market capitalization.
Solana (SOL) performed the worst among major tokens, dropping nearly 4% over the same duration down to roughly $110, whereas XRP and HYPE experienced minimal change. The broader CoinDesk 20 index retreated by approximately 2%.
Thursday’s downturn tested a critical threshold monitored by traders for intermediate market directions.
“At the height of its downward movement on Thursday, Bitcoin dropped to $80.4K, reaching its lowest point in the last three weeks as well as its 50-day moving average, a juncture where market equilibrium shifted back in favor of buyers,” noted Alex Kuptsikevich, head market analyst at FxPro, in an electronic mail to CoinDesk.
“This moving average is frequently viewed as a gauge for the medium-term trend. It has served this purpose exceptionally well since July, when prices stabilized above it, and subsequently the 50-day moving average acted as a solid price floor throughout August. Yesterday’s correction offered further validation of robust buying demand during dips,” he added.
Meanwhile, global financial markets displayed signs of recovery following pulldowns earlier in the week.
S&P 500 index futures increased by less than 0.5% while Nasdaq 100 contracts advanced close to 1% amid announcements that OpenAI anticipates generating $70 billion in annualized revenue before the year concludes.
Brent crude dropped beneath $103 per barrel following Trump’s statements regarding Iran, just a day after reaching a two-week peak, which helped alleviate inflationary anxieties that had recently driven Federal Reserve meeting minutes toward projections of another benchmark interest rate hike. Remain vigilant!
Read further: For detailed breakdowns of today’s movements across alternative coins and derivatives, consult Crypto Markets Today. For a complete agenda of events this week, check out CoinDesk’s Crypto Week Ahead.
What’s trending
- Bitcoin mined for pennies in 2010 moves after 16 years, now worth $8.5 million (CoinDesk): The 100 BTC originated directly from a pair of block rewards generated during the early “Satoshi era” of Bitcoin.
- New tech to power bitcoin lending is set to debut with $500 million in commitments (CoinDesk): Layer-1 blockchain network Sui prepares to introduce Hashi, a novel institutional framework enabling bitcoin owners to utilize their holdings as borrowing collateral without transferring them away from the native Bitcoin blockchain ledger.
- Treasury yields steady as Trump strikes diplomatic tone on Iran ahead of midterms (CNBC): Government bond yields mostly stabilized on Friday morning as market participants processed the latest Treasury bond auction alongside President Donald Trump’s commitment to withhold any military actions against Iran until after the U.S. midterm elections conclude.
- World shares are mostly higher and crude prices fall after an unsettled day on Wall St (AP): Equity markets generally traded higher throughout Europe and Asia, whereas petroleum prices pulled back from recent gains. Germany’s DAX climbed 0.7%, France’s CAC 40 expanded by 0.8%, and the United Kingdom’s FTSE 100 gained 0.7%.
Today’s signal
The accompanying chart outlines the weekly price fluctuations of bitcoin. The premier cryptocurrency dipped down to roughly $80,300 yesterday prior to bouncing back to $82,600, and is currently testing upper resistance levels.
The principal support level now sits around the 50-week exponential moving average (EMA) for BTC, which is positioned near $78,000.
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Originally published at https://www.coindesk.com/daybook-us/2026/10/09/trump-s-iran-pledge-underpins-crypto-gains-as-bitcoin-bears-face-liquidation-pressure.
