Bitcoin and Nasdaq futures started the week in negative territory after President Donald Trump declined to exclude further military strikes against Iran before the November midterm elections, while maintaining that the conflict could end soon.

At 03:30 UTC, bitcoin traded at $83,324, down 1.3%. Ether, XRP and solana also declined, while Nasdaq futures were 0.7% lower.

Crude oil prices climbed amid renewed geopolitical concerns. WTI futures rose nearly 1% to $93.28, with Brent also advancing by a similar amount.

Trump Says War Could End Soon

Trump said Sunday that he expected the conflict with Iran to conclude “very soon,” but would not rule out additional strikes before the midterm elections.

When Fox News asked whether the U.S. could resume military action, Trump said it was possible but declined to give further details.

He said Washington would ultimately prevail through a combination of military measures and economic pressure.

Iranian Foreign Minister Abbas Araghchi said Iran remained “fully prepared” for another conflict and could withstand a potential “doomsday war.”

Iran Offers Temporary Hormuz Reopening

Iran proposed at the United Nations General Assembly that the Strait of Hormuz be reopened for seven days alongside a temporary suspension of hostilities, followed by broader negotiations.

The strategic waterway is a major route for global oil shipments and has been disrupted by the conflict.

Trump rejected the proposal, saying Iran was seeking an agreement because it was under heavy pressure. He also reiterated on Truth Social that Iran “cannot have a nuclear weapon.”

10-Year Yield Reaches 5.20%

The prolonged geopolitical uncertainty has heightened inflation concerns and contributed to higher Treasury yields since the conflict began in early March.

The 10-year Treasury yield has risen 127 basis points to 5.20%, its highest level since 2007. Markets are weighing potential inflationary effects alongside expectations for Federal Reserve rate hikes and concerns about government debt.

Bitcoin has continued to recover despite these pressures. After declining earlier this year, the cryptocurrency has gained 42% over the past three months, exceeding the performance of the Nasdaq and gold.

Key Economic Data Ahead

Investors are now watching several U.S. economic reports scheduled for release this week for clues about monetary policy and broader market conditions.

Vikram Subburaj, CEO of India-based Giottus exchange, said the $83,800-$84,000 region is an important near-term level for bitcoin, with $85,000-$85,800 forming the immediate resistance zone.

He cautioned against chasing the rally at current prices and said traders could manage volatility through lower leverage and staggered entries while monitoring ETF flows, Treasury yields and U.S. inflation data.

The PCE inflation reading, ISM manufacturing report and nonfarm payrolls are all due this week. Their results could influence expectations for Federal Reserve rate hikes and the direction of bitcoin and other risk assets.