Bitcoin Tests $80,000 as Trump Mentions Iran Attack
After Trump’s comments about a possible attack on Iran, Bitcoin briefly slipped below $80,000. Derivatives liquidations and ETF cost bases make that level even more important.
Key Takeaways
- Bitcoin briefly fell below $80,000 this weekend after Trump talked about a possible U.S. attack on Iran or a deal instead.
- The price then stood at $80,546, while traders were mainly watching the $80,000 level.
- CoinGlass reported $543.68 million in liquidations over 24 hours, mostly from long positions.
Bitcoin moved sharply this weekend after President Donald Trump said the U.S. could attack Iran as soon as Sunday, or could instead reach a deal. The price stood at $80,546 (€72,000) after Bitcoin briefly fell below $80,000 (€71,500) on Saturday. For traders, the question now comes down to the same level that has already come up several times before: can Bitcoin stay above $80,000 (€71,500) if tensions keep rising?
Earlier Iran Headlines
Recent price moves show that geopolitical headlines can hit Bitcoin fast, but not always in the same way. On October 8, Trump said he wanted to delay attacks until after the midterm elections. Bitcoin fell that day to $80,393 (€71,800), but closed at $81,754 (€73,000), according to TradingView data for Binance.
On October 22, a report came out about possible U.S. and Israeli attack plans after the election. Bitcoin then dropped from $84,898 (€75,800) on October 21 to $80,939 (€72,300) and closed the day at $81,416 (€72,700). That move was sharp too, but it did not lead to a bigger follow-through.
Liquidations Around $80,000 (€71,500)
Pressure in the market was also visible in derivatives trading. CoinGlass reported $543.68 million in liquidations over 24 hours, of which $461.19 million (€412 million) came from long positions. That shows that traders who were betting on a rise were hit especially hard as Bitcoin slid toward $80,000 (€71,500).
For institutional investors, that level is even more important. Glassnode estimates the cost basis for ETF and treasury companies between $80,000 (€71,500) and $81,500 (€72,800). A daily close below $80,000 (€71,500) would mean the average holder there would be underwater. The True Market Mean around $77,600 (€69,300) would then come closer too.
Why This Matters for Europe
For European crypto investors, this matters because Bitcoin trades through the weekend while traditional markets are closed. The first reaction to an escalation or a deal can therefore show up before stock and bond markets reopen. The broader market is also watching, because geopolitical tension often lines up with moves in oil, gold, and the dollar.
Research into earlier geopolitical shocks also shows that Bitcoin does not always react the same way. In some periods, the coin behaves more like a risk asset, while the reaction during major, ongoing tensions can play out differently. That makes the coming headlines mostly a test of how fragile the current price level really is.
Trading in derivatives also shows how quickly sentiment can flip. Bitcoin options are gaining ground as traders increasingly bet on protection against sharp moves.
