After U.S. President Donald Trump ruled out attacking Iran before the midterms on November 3, Bitcoin rebounded to $81,000; meanwhile, oil prices fell following his statement.

• According to data cited in the report (TradingView), Bitcoin rebounded above $81,000 after Trump's speech.
• Trump stated that the discussions with Iran were "fructuous," but the United States' sanctions will continue.
• Polymarket Traders believe that the probability of a ceasefire lasting until November 15th is 60%.
• The Iranian foreign minister stated that Tehran will respond to Washington's proposal in the coming days.

In a post on Truth Social on October 8, Trump stated that Washington was engaged in "fructful discussions" with Tehran and that the United States would not attack Iran before Americans voted on November 3. At the same time, he said that the sanctions would continue to be in effect and reiterated the stance that Iran should not obtain nuclear weapons.

After Trump's statement, Bitcoin returned to $81,000

According to the data referenced in the attached report with the identifier TradingView, after Trump announced this news, Bitcoin once again rose above $81,000. A market report dated October 8th with the identifier PrimeXBT also recorded this rebound, stating that oil prices fell following the president's remarks.

The same report stated that market volatility was intense on that day, with Bitcoin briefly falling below $81,000, a level not seen since September 21st. According to data from the trading platform, over $480 million in crypto positions were liquidated within one hour, with short positions accounting for the majority of the losses.

Earlier reports indicated that the stress caused by the conflicts had interrupted Bitcoin's rebound in September. crypto.news reported on September 28th that after breaking above $87,000 the previous week, Bitcoin fell back below $84,000, and the renewed uncertainty regarding the Iranian situation also dragged down the market.

According to the report, Trump rejected a proposal put forward by Iran, which involved the reopening of the Strait of Hormuz for 7 days and a suspension of fighting before negotiations on outstanding issues. In his speech on that Sunday, he indicated that the conflict might end soon, but did not rule out the possibility of taking military action before the mid-term elections.

Trump maintains the blockade while ruling out attacks

According to Ynetnews, quoting Trump's statement, Trump described the diplomatic contacts in his post on Thursday as "fructful discussions." He also stated that Iran is still under economic and military pressure, and that the U.S. sanctions continue.

Trump stated that the previous night, 22 million barrels of oil passed through the Strait of Hormuz, but no oil entered or left Iran. In his post, he described this flow as a record and indicated that the blockade would continue to be fully effective.

Before the president's commitment was announced, there were reports that military officials were preparing to consider the option of resuming attacks. Ynetnews Citing Axios reports, it was stated that the U.S. Central Command had received instructions a few days ago to prepare for the possible resumption of large-scale combat operations, however, Trump has not made a final decision yet, nor has a date been set.

In another report, Ynetnews also stated that NBC News reported that Trump and his national security team were discussing large-scale operations for the coming weeks. The media also cited a report from The Atlantic Monthly, stating that the Pentagon had been asked to prepare possible strike plans before the election.

According to Ynetnews, citing The Atlantic Monthly, officials are still considering the scale of the operation, and a larger-scale military action may be launched after the vote. The reports describe preparatory work and internal discussions, rather than attacks that have already been approved.

Previous conflicts had impacted Bitcoin and the US market.

The impact of the conflict on oil prices and the U.S. financial market was recorded in a market report on September 1st. After the United States launched new strikes against Iranian targets, Bitcoin fell below $78,000 and $77,000, trading as low as around $76,762, a significant drop from its intraday high of nearly $79,166.

According to data cited in the report from CoinGlass, approximately $115 million in encrypted leveraged long positions were liquidated within an hour. Ethereum also fell below $2,400 during the sell-off.

According to data cited by Reuters in the report, Brent crude oil rose by 4.6% to $94.65 per barrel; US West Texas Intermediate (WTI) crude oil increased by 5.2% to $90.22 per barrel. The report also noted an increase in U.S. Treasury yields, as well as the S&P 500 index falling to its lowest level since August 4th.

The exposure of American investors is also reflected in Bitcoin funds listed in the United States. In a report on September 28th, the media cited data from Farside Investors stating that from September 21st to 25th, there was a net inflow of $2.39 billion in spot Bitcoin ETF. There was a positive inflow on each trading day, with BlackRock's IBIT accounting for approximately $1.16 billion of that amount.

A market report dated August 31 recorded another period: despite the resumption of hostilities and rising crude oil prices, Bitcoin remained around $77,900. According to the report, BTC rose by about 23% in August; in contrast, gold had a monthly increase of 9%, and NASDAQ by 4%.

The same report states that US spot Bitcoin ETF has attracted approximately $2.8 billion in capital inflows over 8 consecutive trading days. Data Farside cited in the report subsequently showed that there was a net outflow of about $201.9 million on August 28th.

Iran prepares to respond to Washington's proposal

According to the accompanying report, after Trump's statement, traders believed there was a 60% probability that the US-Iran ceasefire would last until November 15. A report on October 8 also gave a 60% reading that the ceasefire would last until mid-November.

On the diplomatic front, Iranian Foreign Minister Abbas Araghchi stated that Tehran has submitted its seven-day proposal and has received responses from Washington. The relevant statements are quoted by Antiwar.com as reported by WANA.

The foreign minister said that Iran is reviewing the US response and expects to give an answer in the coming days. In the same statement, he warned that if Washington proceeds with military action, Tehran is better prepared than ever and will take measures for self-defense.