Bitcoin, Nasdaq Futures Weaken as Trump Keeps Potential Iran Strikes on the Table

Bitcoin and Nasdaq futures opened the week lower after President Donald Trump left open the possibility of additional U.S. strikes against Iran before the November midterm elections, even as he said the conflict could end in the near term.

At 03:30 UTC, bitcoin had fallen 1.3% to $83,324. Ether, XRP and solana also traded in the red, while futures tied to the technology-heavy Nasdaq declined 0.7%.

Oil prices advanced as traders assessed the renewed geopolitical risk. WTI crude gained nearly 1% to $93.28, while Brent futures posted a similar increase.

Trump Declines to Rule Out More Strikes

Trump said Sunday that he believed the war with Iran could end “very soon,” but stopped short of ruling out another round of U.S. military action before the midterm elections.

Asked by Fox News whether further strikes remained possible, Trump said they could happen but declined to elaborate.

He said the U.S. would secure victory through both military action and economic pressure.

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

Iran Seeks Seven-Day Hormuz Opening

Iran proposed at the United Nations General Assembly that the Strait of Hormuz be reopened for seven days while fighting was paused, with broader negotiations to take place afterward.

The strategically important waterway is a major channel for global oil shipments and has been disrupted by the conflict.

Trump rejected the proposal, saying Iran was pursuing a deal because it was under significant pressure. He also reiterated on Truth Social that Iran “cannot have a nuclear weapon.”

Bond Yields Keep Pressure on Risk Assets

The prolonged conflict has contributed to renewed inflation concerns and higher Treasury yields since the fighting began in early March.

The 10-year U.S. Treasury yield has climbed 127 basis points to 5.20%, its highest level since 2007. Investors are assessing the inflationary impact of the conflict alongside expectations for Federal Reserve rate hikes and concerns about elevated government debt.

Bitcoin has nevertheless posted a strong third-quarter recovery. The cryptocurrency is up 42% over the past three months, outperforming the Nasdaq and gold.

U.S. Data in Focus

Traders are now awaiting several major U.S. economic releases that could influence expectations for Federal Reserve policy and determine the direction of risk assets.

Vikram Subburaj, CEO of India-based Giottus exchange, identified $83,800-$84,000 as an important near-term bitcoin level, with $85,000-$85,800 representing the immediate resistance range.

Subburaj cautioned traders against chasing the rally and said lower leverage and staggered entries could help manage volatility as markets respond to ETF flows, Treasury yields and inflation data.

The PCE inflation report, ISM manufacturing data and nonfarm payrolls are scheduled for release this week. The results could alter expectations for Fed rate hikes and influence bitcoin’s next move.