Bitcoin Traders Eye $82,500 Support Zone Ahead of US CPI, PPI Data
ETF withdrawals and inflation worries could push Bitcoin below $80,000 or lift it toward $86,000, analysts said.
- Bitcoin defended support at $82,500 on Tuesday ahead of Wednesday's Consumer Price Index print, with analysts closely monitoring this critical threshold before the September inflation data release.
- Market uncertainty continues as investors pull funds from Bitcoin ETFs, with research analyst Lacie Zhang citing approximately $681 million in weekly outflows following previous record inflows.
- Institutional accumulation remains a factor, with Strategy holdings reaching roughly 848,000 BTC valued near $70.5 billion, while Bitcoin recovered above $83,000 and avoided its previous $60,000 to $80,000 macro range.
- Jeff Mei, chief operating officer at BTSE, noted that higher-than-expected inflation readings could push Bitcoin below $80,000, while softer results might support a rebound toward $86,000.
- President Donald Trump announced an 'energy ceasefire' between Russia and Ukraine, as broader markets weigh geopolitical risks; Bitcoin's resilience has shown separation from traditional oil-price pressures.
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Bitcoin trades near $83,000 as macro headwinds and US political uncertainty weigh on sentiment
Bitcoin consolidated near $83,000 as rising US bond yields, dollar strength, and ETF outflows weighed on sentiment. Analysts highlight Wednesday's US CPI inflation data as the next key catalyst, with strong support holding near $81,000 and major resistance positioned at $84,000.
The price of Bitcoin has fallen to the $82,000 level. This is attributed to dampened investor sentiment as the possibility of a further benchmark interest rate hike by the U.S. Federal Reserve (Fed) comes to the forefront. According to CoinMarketCap, a global cryptocurrency market data site, Bitcoin was trading at $81,940.85 as of 8:31 AM on the 13th. This represents a 2.01% decrease compared to 24 hours ago. Over the past seven days,
Bitcoin faces $80K risk or $86K rebound on CPI: analysts
Bitcoin has rebounded above $83,000, according to ViaBTC’s Jeff Ko, as analysts have identified a drop below $80,000 or a recovery toward $86,000 as possible outcomes of this week’s U.S. inflation report. Jeff Mei, chief operating officer at BTSE, told…
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