Bitcoin hovers near $81.5K ETF cost basis amid geopolitical tensions and Fed meeting anticipation

Bitcoin (BTC) remained below $82,000 around Thursday’s Wall Street open, preserving 3% daily losses as US stocks fell due to geopolitical tensions. US President Donald Trump reiterated the possibility of new military action against Iran, stating the US was “not negotiating” with the Iranian side. Analysts at Bitfinex Alpha forecast BTC/USD will trade in a narrow range between $81,300 and $84,400 until the Federal Reserve meeting on Oct. 28. The S&P 500 Index was down 1.3% and the Nasdaq Composite Index was 2.3% lower at the time of writing.