Bitcoin Holds $86K as Trump Ties Possible Iran Deal to…
Bitcoin traded around $86,000 on Tuesday, consolidating after a move to fresh 33-week highs while crude oil prices briefly sank to their lowest level in nearly three weeks.
According to TradingView data cited by Cointelegraph, BTC reached $87,350 the previous day, its highest level since Jan. 29, before volatility cooled and price action centered near the $86,000 area.
Trump Links Iran Deal Timing to the Election
U.S. stocks moved sideways as President Donald Trump addressed the United Nations General Assembly in New York, according to the source report.
Trump told world leaders he believed a deal to end the U.S.-Iran war could come after November’s midterm elections.
“I believe we’ll make a deal right after the election because it doesn’t make sense for them not to,” Trump said, according to the report.
Oil Briefly Falls Below $90
WTI crude oil fell as low as $89.16 per barrel, the source said, marking its lowest level since Sept. 4, before moving back toward $92 during Trump’s speech.
The decline followed reports that Saudi Arabia had reopened the East-West Pipeline, a key oil-supply route. Reuters, citing three anonymous sources, reported that flows could take six to eight weeks to return to full capacity.
Onchain Metric Points to Possible Market Shift
Bitcoin’s market value to realized value ratio, or MVRV, has crossed above its 365-day moving average, according to onchain analytics firm Glassnode.
Glassnode said on X that a similar cross appeared in 2019 and 2023 near the beginning of previous Bitcoin bull markets.
MVRV compares Bitcoin’s market capitalization with the cumulative price at which coins last moved onchain. Higher readings can indicate larger unrealized profits among holders.
The source report said Bitcoin’s MVRV ratio stood at 1.62, up from 1.19 on Aug. 16, but still below the 3.7 area that has historically aligned with bull-market top profitability zones.
CryptoQuant also pointed to a breakout in the 30-day moving average of Bitcoin’s MVRV ratio above a multi-month resistance level below 1.5. In a blog post cited by the source, the firm said a move above that area for the first time since January would mark the end of a prolonged investor accumulation phase.
CryptoQuant added that a move above the current 1.62 level would “confirm the reversal of ongoing bear market” and revive a $126,200 all-time-high target for Bitcoin, according to the report.
Those projections remain analytical interpretations, not guarantees. Bitcoin’s near-term direction still depends on whether buyers can defend the $86,000 area while macro and geopolitical risks continue to shift.