Bitcoin (BTC) Price: Traders Brace for Weekly Close After BTC Tapped $80,300

TLDR

• Bitcoin traded near $83,000 on Friday after a week of losses, with $82,000 acting as support.
• President Trump said the U.S. will not attack Iran before the November 3 midterm elections.
• U.S. spot Bitcoin ETFs saw $244 million in net outflows on October 8.
• Rising oil prices and Fed rate expectations weighed on Bitcoin, which was on track for a weekly drop of nearly 3%.
• Strategy’s preferred shares (STRC) rose to $99.71, their highest level since June.

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Bitcoin traded around $83,000 on Friday as the crypto market recovered from Thursday’s selloff. The recovery followed a week of losses. Ethereum rose above $2,500, and XRP climbed to $1.40.

The Fear and Greed Index stood at 59, in Greed territory. That was down from 64 the day before.

Trump Rules Out Iran Strikes Before Midterms

President Donald Trump said Thursday that the U.S. will not attack Iran before the November 3 midterm elections, according to the Associated Press. He also said talks with Tehran were making progress.

BREAKING: President Trump says the US will not attack Iran “at any time prior” to the US Midterm elections on November 3rd. pic.twitter.com/tiGcE5Qu6V

— The Kobeissi Letter (@KobeissiLetter) October 8, 2026

Analyst Jeffrey Guterman questioned the move on X, asking why anyone at war would publicly reveal their strategy. The war is now in its seventh month, far longer than Trump first predicted.

Iran’s Foreign Minister Abbas Araghchi said Tehran expects to give its official answer to a U.S. counterproposal within days. Meanwhile, the USS Theodore Roosevelt and supporting ships are due in the region at the end of October.

ETF Outflows and Price Levels

U.S. spot Bitcoin ETFs recorded $244 million in net outflows on October 8, based on SoSoValue data. Franklin’s EZBC was the only fund to post a net inflow.

Wu Blockchain also reported that spot Ethereum ETFs saw $72.5 million in outflows. That marked their eighth straight day of net outflows.

Analyst Ted Pillows said on X that Bitcoin nearly touched $80,000 on Thursday. He noted it is still holding above its key levels, and he is watching the weekly close. A close below $82,700 could send BTC back into its consolidation range, he said.

$BTC almost tapped $80,000 yesterday.

It’s still holding above all its key levels, which is a good sign.

Now, all eyes will be on the weekly close, as a close below $82,700 could push BTC back into the consolidation range. pic.twitter.com/klSLyWXJAC

— Ted (@TedPillows) October 9, 2026

On the four-hour chart, the Chaikin Money Flow reads 0.14, which points to fresh buying. A four-hour close above $84,000 could put $86,000 in focus. A close below $82,000 could open the way to $80,000.

Investing.com reported that rising oil prices and the Fed outlook also weighed on Bitcoin. Brent crude traded near $104. The September CPI and PPI reports are due next week.

Markets expect the Fed to hold rates at its October 27-28 meeting. A 25-basis-point increase is possible in December.

Bitcoin had approached $87,000 on Sunday before losing ground. It was on course for a weekly decline of nearly 3%.

Security news also weighed on sentiment. Ledger is investigating reports of missing crypto tied to devices sold through Southeast Asian reseller CryptoBilis. Investigators estimate losses of $86 million to $93.4 million, though Ledger has not confirmed the amounts.

Strategy’s STRC preferred shares rose to $99.71 on Friday, their highest since June. Bitcoin was trading at $82,674 early Saturday, up 0.53% over 24 hours.