Bitcoin Recovers to $82,500 Following U.S. Iran Pledge

Bitcoin recovered to around $82,500 after President Donald Trump said the United States would not attack Iran before the Nov. 3 midterm elections, according to CoinDesk. Despite the bounce, bitcoin heads into the weekend about 4% lower than the previous week, having rebounded from a low near $80,300 on Thursday. Ether slid 9% over the week to trade around $2,500.

Market Rebound and Derivatives

Smaller tokens led the recovery following Trump's Truth Social post on Thursday. The CoinDesk 80 rose 2.2% since midnight UTC, outperforming broader indexes as the CoinDesk 100 remained 2.2% lower over 24 hours. U.S.-listed bitcoin, ether, and Zcash exchange-traded funds posted outflows on Thursday, leaving XRP funds as the sole crypto products to record inflows.

Derivatives data showed bitcoin futures open interest slipping 1.9% over 24 hours to $27.1 billion according to Coinalyze. Funding rates remained positive at roughly 5% annualized. CoinGlass data recorded $1.09 billion in total liquidations over 24 hours, with long positions accounting for $931 million, or approximately 85% of the total.

Token Developments

Among individual assets, Starknet’s STRK jumped 33% after the network announced it is considering transitioning to a standalone layer-1 blockchain to achieve full quantum resistance by 2027. Meanwhile, Kaia rose 40% following a listing on South Korean exchange Upbit.

Key facts

• Bitcoin recovered to around $82,500 following President Donald Trump's comments on Iran.
• Total liquidations reached $1.09 billion over 24 hours, with longs accounting for $931 million.
• Starknet’s STRK surged 33% on plans to evaluate a standalone layer-1 blockchain transition.
• U.S. bitcoin, ether, and Zcash ETFs posted outflows on Thursday, while XRP funds saw inflows.