Bitcoin Drops Below $83,000 as Q3 Gains Stay Above 40%
Bitcoin price slips below $83,000 as traders eye key support and resistance levels Stay ahead of BTC moves with inflation data, Fed clues, and the next breakout zone
Bitcoin fell below $83,000 at the start of the week after fresh geopolitical tension added pressure to markets, but it remains up more than 40% for the quarter as the third quarter nears its close.
The article says BTC recently posted its highest weekly close since late January at $84,450 before slipping to oneweek lows around $82,557. Traders are watching liquidity levels, with a large cluster of sell orders near $85,700 seen as a shortterm obstacle to further gains.
Markets are also focused on upcoming US inflation and labor data, including the August PCE reading and September nonfarm payrolls. The piece says traders are pricing in a higher chance of another 0.25% Federal Reserve rate hike in October, while analysts note that Bitcoin needs to hold $82,500 to keep a bullish recovery pattern intact.