Bitcoin circles $81.5K ETF cost basis as Trump Iran comments send stocks lower
Summary
Bitcoin fell 2.9% to about $81,256 as renewed US-Iran tensions and weakness in US stocks pressured risk assets. The price hovered near the roughly $81,500 cost basis of US spot Bitcoin ETFs after approaching $85,000 the previous day. Bitfinex Alpha analysts expected BTC to remain between $81,300 and $84,400 until the Federal Reserve’s Oct. 28 meeting. They said sustained ETF demand could support a break above that range, while a close below $81,300 could expose the Oct. 15 low of $79,821.
