Bitcoin traded below $82,000 around the Wall Street open on Thursday as US stocks fell on renewed geopolitical tension linked to Iran. BTC/USD hit $81,256 on Bitstamp, down 2.9 percent on the day, while the S&P 500 was down 1.3 percent and the Nasdaq Composite 2.3 percent at the time of writing. By our market data, as of 16:41 GMT on 22 October, bitcoin stood at $81,568, down 3.60 percent from the previous close.
Geopolitics and risk appetite
President Donald Trump reiterated the possibility of new US military action against Iran and said the US was not negotiating with Iran, a combination that pushed risk assets lower. “We are going to have something one way or the other that will happen fairly soon,” Trump said. “Most people seem to think it’s after the election and we’ll see what happens.”
Ian Lyngen of BMO Capital Markets said tech stocks came under pressure amid renewed fears over AI valuations. A rebound in energy prices added to the risk-off tone.
Bitcoin’s near-term range
Bitcoin had reached nearly $85,000 the day before. Analysts at Bitfinex Alpha, the research arm of Bitfinex, expect a narrow trading range until the Federal Reserve’s policy meeting on Oct. 28. They put resistance at $84,400 and support at $81,300. A close below that support, they said, would raise the risk of a move towards the 15 October low of $79,821.
Prediction markets are sceptical of a fresh peak. Traders on Kalshi priced the odds of bitcoin hitting a new all-time high by mid-January 2027 at 3 percent.
Related: Bitcoin nears $83,000 as US stocks rally on earnings · Bitcoin dips below $80,000, then rebounds near $82,000
Data: CoinGecko
