Bitcoin Rebounds to $82K as Crypto Market Faces Weekly Losses

Bitcoin recovered above $82,000 on Friday after President Donald Trump eased concerns over an imminent U.S. military strike on Iran, although the broader cryptocurrency market remained under pressure following heavy liquidations.

Bitcoin (BTC) traded around $82,500 after falling to approximately $80,300 on Thursday, leaving the cryptocurrency nearly 4% lower for the week. Ethereum (ETH) suffered steeper losses, declining 9% over seven days to approximately $2,500.

The crypto market recovery followed Trump's announcement on Truth Social that Washington would not attack Iran before the November 3 midterm elections. Brent crude oil subsequently declined about 1% to $103 per barrel, while Nasdaq 100 futures advanced 0.83% and S&P 500 futures gained 0.44%.

Despite the rebound, market weakness persisted. The CoinDesk 100 remained down 2.2% over 24 hours, while decentralized finance (DeFi) tokens dropped nearly 4%. U.S.-listed Bitcoin, Ethereum and Zcash exchange-traded funds recorded outflows Thursday, although XRP funds attracted fresh investments.

Cryptocurrency derivatives data highlighted continued uncertainty. Bitcoin futures open interest declined 1.9% to $27.1 billion, suggesting limited new leveraged positions supported the recovery. Meanwhile, funding rates remained positive at approximately 5% annualized.

According to CoinGlass, crypto liquidations reached $1.09 billion over 24 hours, including $931 million in long positions. Ethereum accounted for $345 million, followed by Bitcoin at $266 million and Solana at $65 million.

Several altcoins significantly outperformed major cryptocurrencies. Starknet (STRK) surged 33% following discussions about transitioning from Ethereum's layer-2 ecosystem into an independent, quantum-resistant layer-1 blockchain by 2027.

Kaia (KAIA) climbed 40% following its listing on South Korean exchange Upbit. Aptos (APT) gained 12%, while Cosmos (ATOM) and Polkadot (DOT) advanced nearly 10%.

However, Algorand (ALGO) dropped 14%, while Curve (CRV) declined 13%, reversing earlier gains.

Artificial intelligence-related cryptocurrencies also struggled after reports showed OpenAI's annualized revenue reached approximately $50 billion, below previously reported expectations of $68 billion. Kite (KITE) and Venice (VVV) each fell roughly 9%.

Meanwhile, Pyth Network (PYTH) gained 13%, standing out among the few cryptocurrencies posting sustained advances.

Bitcoin's recovery offered temporary relief, but elevated liquidations, weak institutional fund flows and geopolitical uncertainty continued to weigh on overall crypto market sentiment.