On this side, we at least need to see another high form, so currently there is no plan to buy the dip. I expect this high to form within 83–85k, and then it will move into a new pullback.
Let’s first sort out the reasons behind this rebound:
1. Negative news is starting to lose impact
The CLARITY Act has been blocked, the Federal Reserve continues to raise rates, and the probability of further rate hikes in October is increasing. These negative factors have already been priced in by the market for a round. When bad news plays out and BTC doesn’t continue making new lows, but instead quickly regains lost ground, it suggests that near-term selling pressure may already have been exhausted.
2. Funds re-enter the market
Bitcoin spot ETFs have started flowing back in again, and in large amounts with net inflows. This ends the previous two consecutive days of net outflows, and institutional buying is gradually recovering.
3. Shorts get squeezed higher
BTC quickly rebounded from 75k back above 81k, during which a large number of shorts were liquidated. As in mid-August, it created a chain reaction of “prices rise → shorts are stopped out → prices continue to rise.”
If 80k turns from a psychological resistance into a new support, the market structure will improve significantly. Especially with expectations for rate hikes in October still heating up, yet BTC can get back above $80k—this combination of “macroeconomic negatives + price not falling” is actually worth monitoring further.
Let’s first sort out the reasons behind this rebound:
1. Negative news is starting to lose impact
The CLARITY Act has been blocked, the Federal Reserve continues to raise rates, and the probability of further rate hikes in October is increasing. These negative factors have already been priced in by the market for a round. When bad news plays out and BTC doesn’t continue making new lows, but instead quickly regains lost ground, it suggests that near-term selling pressure may already have been exhausted.
2. Funds re-enter the market
Bitcoin spot ETFs have started flowing back in again, and in large amounts with net inflows. This ends the previous two consecutive days of net outflows, and institutional buying is gradually recovering.
3. Shorts get squeezed higher
BTC quickly rebounded from 75k back above 81k, during which a large number of shorts were liquidated. As in mid-August, it created a chain reaction of “prices rise → shorts are stopped out → prices continue to rise.”
If 80k turns from a psychological resistance into a new support, the market structure will improve significantly. Especially with expectations for rate hikes in October still heating up, yet BTC can get back above $80k—this combination of “macroeconomic negatives + price not falling” is actually worth monitoring further.
