Bitcoin (BTC) Price: Trades Near $87,000 After Trump Reports Good Meeting With Iran

TLDR

• Bitcoin traded near $87,200 on Wednesday after Trump said US officials had a “very good meeting” with Iran.
• BTC is up about 14% over seven days after recovering from around $75,600 on Sept. 15.
• CryptoQuant founder Ki Young Ju expects this bull cycle to bring a 3–5x gain instead of another 10x rally.
• Ju said Bitcoin’s MVRV ratio stayed above one all cycle, and older whales have stopped selling.
• Bitcoin futures open interest rose more than 1% to $61.40 billion in 24 hours.

Bitcoin traded near $87,200 on Wednesday after President Donald Trump said US officials had a “very good meeting” with Iranian representatives. The price has climbed about 14% over the past seven days, according to CoinGecko.

BTC has recovered from around $75,600 on Sept. 15. Its market capitalization now sits near $1.75 trillion.

Bitcoin Price on CoinGecko

Trump said envoys Steve Witkoff and Jared Kushner held a three-hour meeting with Iranian officials at the UN General Assembly, including Foreign Minister Abbas Araghchi. He called the talks “very productive” and said another round is planned soon.

Iranian media reported that Iran repeated its conditions, including lifting the US naval blockade and unfreezing assets. Iran had earlier proposed reopening the Strait of Hormuz within seven days if the US takes first steps to ease tensions.

Journalist Elizabeth Hagedorn posted on X that Jordan’s King Abdullah described his regional meeting with Trump as “very good.” She said the king crossed his fingers when asked whether an Iran deal was possible.

Oil prices fell for a sixth straight day to $89 per barrel. Trump has said a final decision on a broader Iran deal could come after the November midterms.

CryptoQuant CEO Expects Smaller Swings

CryptoQuant founder Ki Young Ju said Bitcoin has entered a more mature bull cycle. He expects gains of three to five times rather than the 10x rallies of earlier years.

In a post on Tuesday, Ju wrote that he expects “3–5x rather than another 10x+ parabolic rally, followed by a milder bear market.” He did not say which price or date the estimate should be measured from.

Ju pointed to Bitcoin’s MVRV ratio, which compares market value with the average cost basis of holders. He said the ratio never dropped below one during this cycle, even during large drawdowns.

He also said rising realized capitalization shows new money entering Bitcoin. According to Ju, older whales have stopped selling, while futures whales built large long positions near the recent bottom.

“Giving up the 10x parabola also means giving up the 80% crash,” Ju wrote. Bitcoin hit a record near $126,000 in October 2025 before falling toward $60,000 in 2026.

ETF Flows and Futures Activity

Spot Bitcoin ETFs drew $433 million on Sept. 18 after outflows earlier in the week. HashKey researcher Tim Sun said ETF flows often confirm a market move rather than cause it.

Bitcoin futures open interest rose more than 1% to $61.40 billion over 24 hours, according to Coinglass. Open interest jumped more than 5% on CME and 6% on Hyperliquid but fell almost 2% on Binance.

Trading volume has dropped 32% as traders wait for speeches from Federal Reserve officials. Ethereum, XRP, Solana and Zcash also moved higher with Bitcoin.

Bitcoin is currently trading around $87,200, with an intraday high of $87,251. Iran’s President Masoud Pezeshkian is set to attend meetings at the UN today.

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