Bitcoin climbed back above $81,000 on October 8, 2026, after President Donald Trump said the US would not strike Iran before the November 3 midterm elections. The rebound remains fragile, with the largest crypto asset still down 1.9% over 24 hours despite the move higher. Crude oil prices retreated simultaneously as traders quickly priced in reduced supply disruption risks in the Middle East. Prediction markets now assign roughly a 60% chance that a ceasefire would hold through November 15, with Iran indicating it would respond to US proposals in the coming days.
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