Bitcoin and Nasdaq Futures Slide as Trump Leaves Door Open to More Iran Strikes

Bitcoin and Nasdaq futures started the new week lower after President Donald Trump declined to rule out additional U.S. military strikes against Iran before the early November midterm elections, despite saying the conflict could end “very soon.”

At 03:30 UTC, bitcoin was trading 1.3% lower at $83,324. Major altcoins, including ether, XRP and solana, were also posting losses. Futures tied to the Nasdaq, which is heavily weighted toward technology stocks, were down 0.7%.

Oil prices moved in the opposite direction. WTI crude futures climbed nearly 1% to $93.28, while Brent crude posted a similar gain.

Trump Leaves Door Open to Further Strikes

Trump said Sunday that he expected the war with Iran to conclude “very soon,” but stopped short of ruling out additional military action before the midterm elections.

When asked by Fox News whether the U.S. could resume military strikes, Trump responded that it was possible but declined to provide a definitive answer.

He also said the U.S. would prevail through a combination of military and economic pressure.

Iranian Foreign Minister Abbas Araghchi, meanwhile, said the country was “fully prepared” for a renewed conflict and warned that Iran could withstand what he described as a potential “doomsday war.”

Iran Proposes Strait of Hormuz Pause

At the United Nations General Assembly, Iran proposed an agreement that would allow the Strait of Hormuz to reopen for seven days while fighting was paused, followed by broader negotiations on outstanding issues.

The Strait is a critical oil shipping route that has been disrupted by the conflict.

Trump rejected the proposal, arguing that Iran was seeking an agreement because it was under significant pressure. He also reiterated on Truth Social that Iran “cannot have a nuclear weapon.”

Treasury Yields Add to Market Pressure

The continued geopolitical uncertainty has fueled inflation concerns since the conflict began in early March and contributed to higher Treasury yields.

The U.S. 10-year Treasury yield has climbed 127 basis points to 5.20%, its highest level since 2007. Investors have been weighing renewed inflation risks, expectations for Federal Reserve rate hikes and concerns surrounding government debt.

Bitcoin initially declined earlier in the year but has staged a strong recovery during the third quarter despite those pressures. The cryptocurrency has gained 42% over the past three months, outperforming major assets including the Nasdaq and gold.

Traders Await Key Economic Data

Market participants are now turning to upcoming U.S. economic releases for clues about bitcoin’s next direction.

Vikram Subburaj, CEO of India-based crypto exchange Giottus, identified the $83,800-$84,000 area as an important near-term level for investors, while placing immediate resistance around $85,000-$85,800.

He also advised against chasing the current rally and said traders could manage volatility by keeping leverage low and using staggered entries as the market reacts to ETF flows, Treasury yields and U.S. inflation data.

This week’s calendar includes the U.S. PCE inflation reading, ISM manufacturing data and the nonfarm payrolls report. The releases could influence expectations for Federal Reserve policy and shape broader financial-market sentiment.

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