Bitcoin Shorts Face Liquidation Pressure as Trump Promises No Iran Strike Before Midterm Elections

October 9 — U.S. President Trump stated that he will not launch bombings against Iran before next month's midterm elections, easing market concerns over escalating tensions in the Middle East. Bitcoin subsequently rebounded from a low of around $80,400 on Thursday to near $82,500, with short traders facing liquidation pressure.

In terms of market performance, Bitcoin is currently trading at $82,486; Ethereum fell about 2% in 24 hours, trading near $2,500; SOL dropped nearly 4%, trading around $110, while XRP and HYPE performed relatively steadily, and the CoinDesk 20 index fell about 2%.

Alex Kuptsikevich, Chief Market Analyst at FxPro, said Bitcoin dipped to $80,400 on Thursday, touching a near three-week low and the 50-day moving average before finding buying support, indicating that buying demand still exists during the pullback.

In macro markets, S&P 500 index futures rose less than 0.5%, Nasdaq 100 index futures rose nearly 1%; Brent crude fell below $103 per barrel, easing inflation concerns triggered by earlier oil price gains. Whether Bitcoin can rebound further still requires attention to upside resistance levels and changes in the Middle East situation.