Bitcoin drops below $80k as Trump-Iran tensions resurface

Bitcoin slipped under the $80,000 mark for the first time since October 15, touching a low of $79,165 before trading near $79,650 — a 2.5 % decline in a single day.

The move was triggered by reports that Donald Trump plans to ramp up military pressure on Iran after the November 3 U.S. midterm elections. Markets immediately priced in higher oil prices and the risk that interest rates could stay elevated longer, hurting risk assets.

Spot demand remains weak: the Coinbase premium has stayed negative for 31 straight days at -0.13 %, signaling U.S. buyers are not stepping in to support the price. Combined with thin weekend liquidity, this left the market vulnerable to accelerated selling.

Over the past 24 hours, $828 million in positions were liquidated, the vast majority long bets. Analysts say the lack of fresh buying interest leaves little cushion if geopolitical headlines worsen.

Based on information from cryptonews.net