Trump Rejects Iran Ceasefire Draft; Bitcoin Drops Back to $81.5k

Bitcoin (BTC) gave back the weekend rebound as of May 11, trading at about $81,530. As reported by Axios on Sunday evening, U.S. President Donald Trump said in a phone interview that he would refuse to respond to Iran’s reply to the latest ceasefire agreement draft, and posted on Truth Social the same day that Iran’s response was “completely unacceptable.”

Trump Refuses Iran’s Response: Axios Interview and Official Statements

According to Axios, after waiting for 10 days, the U.S. received Iran’s response on May 10, 2026 (Sunday). The White House had hoped Iran’s position would show further progress toward an agreement. In his Axios interview, Trump said, “I don’t like their letter. It’s not appropriate. I don’t like their response.” He then posted on Truth Social that Iran’s response was “completely unacceptable!”

According to Axios, Trump said he spoke with Israeli Prime Minister Benjamin Netanyahu on Sunday and discussed Iran’s response, but said, “Iran negotiations are my business, not someone else’s.” In the interview, Trump did not explicitly say whether he planned to continue negotiations or might take military action.

Iran’s Core Conditions in Its Ceasefire Response

According to a report from Tasnim News Agency, which is linked to the Islamic Revolutionary Guard Corps, Iran’s response included the following core conditions: lifting U.S. sanctions (including those related to Iran’s oil sales), immediately lifting the U.S. Navy blockade, releasing frozen assets, and ensuring Iran maintains control over the Strait of Hormuz. The response kept the proposed format of signing a memorandum of understanding (MOU) first, then holding 30 days of talks, but insisted that the related sanctions be lifted within the 30-day period.

Iran’s state television later reported that Tehran rejected the U.S. proposal, saying it “means Iran is surrendering to excessive demands from Trump.” According to Tasnim, an Iranian source said, “No one wrote the proposal to please Trump.”

Iran’s Supreme Leader Khamenei’s Military Developments

Citing Iranian official media, CNN reported on May 10, 2026, that Iran’s Supreme Leader Mojtaba Khamenei met with senior military officials in person twice over the past several days. According to Iran’s semi-official Fars News Agency, Khamenei met with the commander of the military headquarters Ali Abdollahi and received a briefing on “the readiness status of Iran’s armed forces,” then issued new instructions requiring a “strong response to the enemy.”

In the report, Abdollahi said Iranian forces are in a high state of readiness and have “the equipment and weapons needed to respond to U.S.-Israeli hostile actions,” adding that “once the enemy makes any strategic mistake, commits aggression, or launches an attack, they will respond quickly, forcefully, and powerfully.”

According to CNN’s Friday report, citing multiple people familiar with the relevant intelligence, U.S. intelligence assesses that Khamenei is working with senior Iranian officials to help formulate war strategy.

Bitcoin Price Action and Prospects for Tuesday CPI Data

According to Axios and market-related reports, Bitcoin on May 11, 2026 gave back the weekend rebound, trading at about $81,530. Trader Killa, on X, said that ahead of Tuesday’s CPI data release, the Bitcoin price will face resistance again; April’s Consumer Price Index (CPI) will reflect the continued impact of the Iran-U.S. war and rising oil prices. Killa noted that if the bull market support band breaks, $74,000 will become the next key target to watch.

According to the public calendar, on May 13, 2026 (Tuesday) April CPI data will be released; on May 14 (Wednesday) PPI data and OPEC’s monthly oil production outlook; on May 15 (Thursday) retail sales data; and on May 16 (Friday) industrial production data.

Frequently Asked Questions

When and through what channel did Trump refuse Iran’s ceasefire response?

According to an Axios report dated May 10, 2026, Trump said in a phone interview with Axios that he would refuse Iran’s response, and on the same day posted on Truth Social saying it was “completely unacceptable!” After waiting for 10 days, the U.S. received Iran’s response on Sunday.

What core conditions did Iran put forward in its ceasefire response?

According to a Tasnim News Agency report, Iran demanded that U.S. sanctions on oil sales be lifted, that the U.S. Navy blockade be lifted immediately, that frozen assets be released, and that Iran maintain control over the Strait of Hormuz.

What is Bitcoin’s next key technical support level?

According to trader Killa’s analysis on X, if the bull market support band breaks, $74,000 will be the next important level to watch. The April CPI data to be released on Tuesday is the main near-term macro factor.