$80K Bitcoin Target Back In Play As Trump Suggests US-Iran Talks Could Restart

Bitcoin futures markets lit up within an hour of US President Donald Trump hinting that diplomatic talks with Iran could resume as early as Friday. Open interest on Binance climbed nearly 2%, while CME recorded a 0.5% rise, reflecting a quick surge in bullish bets from derivatives traders.

Derivatives Market Responds Fast

Total Bitcoin futures open interest jumped over 8% in 24 hours, crossing $62 billion, according to data from CoinGlass. That kind of movement in the derivatives market signals traders are positioning for further upside, not just reacting to a short-term bounce.

Bitcoin itself climbed more than 4% over the same period, pushing past $78,000 — a level that puts the $80K target back within reach after weeks of pressure.

Price action followed in the wake of US equities indexes rebounding from their previous losses. The S&P 500, Nasdaq 100, and Dow Jones all climbed by about 1%, benefiting from the ceasefire extension as well as strong company earnings results. Risk assets across the board were bid up as investors responded to the softer tone coming out of Washington.

Trump told the New York Post that a second round of talks was possible as soon as Friday — a comment that quickly circulated across financial markets. Pakistan has also backed the push, with mediators actively working to set up a new round of negotiations.

The ceasefire between the US and Iran had already been extended by three to five days before these latest signals emerged.

Iran’s Position Remains Unclear

But the picture on Iran’s side is far from settled. According to the Tasnim news agency, Iran had no current plans to negotiate on Friday — a direct contradiction of Trump’s stated expectations.

Iranian Supreme Leader Mojtaba Khamenei has not been communicating directly, and a divide between IRGC generals and Iran’s civilian negotiators is adding to the uncertainty.

Iranian forces also seized two cargo ships near the Strait of Hormuz shortly after the ceasefire extension was announced, a move that complicated the diplomatic mood.

Trump’s negotiators, based on reports, are now unsure whether there are reliable partners on the Iranian side to move a deal forward.

Bitcoin’s 24-hour trading volume dropped 30% even as the price climbed. That gap between price action and volume is a familiar warning sign in crypto markets — it suggests the rally may lack the broad participation needed to hold higher levels.

Despite the $80K target drawing attention again, thin volume means the move could reverse quickly if the geopolitical situation shifts.

Featured image from Pexels, chart from TradingView