Bitcoin recovered to around $82,500 on Thursday following President Donald Trump’s statement on Truth Social ruling out a U.S. attack on Iran before the Nov. 3 midterm elections, though the token remains about 4% lower than a week ago.

The recovery came after Bitcoin had dropped to $80,300 earlier Thursday amid broader market volatility. At the time of publication on Oct. 9 at 6:44 a.m. EDT, Bitcoin was trading at $82,410.85.

Ether declined 9% over the same week, trading at $2,489.08. The CoinDesk 80 index, which tracks major tokens, gained 2.2% since midnight UTC, while the CoinDesk 100 fell 2.2% over 24 hours.

Token-Specific Moves

Starknet’s STRK token jumped 33% over 24 hours as the blockchain network moved forward with plans to potentially leave Ethereum and become a standalone layer-1 blockchain targeting full quantum resistance by 2027. The proposal has yet to be approved.

Kaia, a layer-1 blockchain formed from the merger of Kakao’s Klaytn and LINE’s Finschia, surged 40% since midnight following a listing on Upbit, Korea’s largest exchange. Aptos gained 12%, while Cosmos and Polkadot each rose 10%.

Losses were steeper for other tokens. Algorand declined 14% over 24 hours, Curve fell 13%, and Pyth Network bucked the trend with a 13% gain. Kite and Venice tokens each lost 9%.

Liquidations and Futures Activity

The Thursday selloff triggered $1.09 billion in liquidations over 24 hours, with $931 million from long positions representing 85% of total liquidations. Ether accounted for $345 million in liquidations, Bitcoin $266 million, and Solana $65 million. The largest single liquidation was a $20 million ETH-USD position on Hyperliquid.

Bitcoin futures open interest stood at $27.1 billion, down 1.9% over 24 hours. Annualized funding rates held at 5%, while Deribit’s Oct. 30 futures contract showed a 7% annualized basis. The long-to-short ratio was 1.85, with 65% of positions holding long exposure.

Sentiment and Market Context

Justin Drake, an Ethereum Foundation researcher, had called for “bunker mode” in the lead-up to Thursday’s selloff, contributing to negative sentiment across the market. Yehuda Lindell, a Coinbase cryptographer, dismissed concerns about elliptic-curve assumptions being broken, using the term “FUD” to characterize such worries.

U.S.-listed Bitcoin, Ether, and Zcash ETFs posted outflows on Thursday. XRP funds were the only crypto products to attract inflows during the period.

Pudgy Penguins’ Abstract became the second Ethereum layer-2 network to shut down in a week, adding to market uncertainty.

Broader Markets

Stock futures posted modest gains following Trump’s statement. Nasdaq 100 index futures rose 0.83%, while S&P 500 futures gained 0.44%.

OpenAI told investors it had achieved $50 billion in annualized revenue at the end of September, below a $68 billion figure widely reported last month. The Nasdaq Composite posted its biggest one-day drop since mid-August following the revenue disclosure. Brent crude slipped 1% to $103 per barrel.