BTC faces pressure and falls back to $828,000
This pullback in Bitcoin isn’t driven by a single piece of news. It’s more like multiple assets at the same time are deleveraging.
According to PANews citing QCP, on Monday, September 28, global markets opened under pressure. Ahead of trading, the Nasdaq 100 index fell from 744.45 to 737.76, gold dropped from $4,260 to $4,147, BTC fell from $84,500 to $82,800, and the U.S. dollar index also weakened. QCP believes geopolitics is the main driver: over the weekend, the U.S. rejected a proposal for a ceasefire targeting the Strait of Hormuz, concerns about disruptions to energy supply resurfaced, and Brent crude surged.
This week, the U.S. macroeconomic calendar is packed. The PCE price index and the nonfarm payrolls report will continue to influence expectations for policy. QCP also noted that implied volatility in the front end of crypto options remains elevated, with dealers pricing downside protection. Spot Bitcoin ETF flows also appear hesitant amid broader liquidations.
On one side, geopolitics boosts oil prices and inflation expectations; on the other, macro data and risk assets are pressured in sync—so BTC’s key support levels naturally draw more attention. Do you want to first see whether the area around $82,000 can hold, or whether to focus first on this week’s PCE and the reaction to nonfarm payrolls?
Figure 1: BTC faces pressure and falls back to $828,000 · Source: partial screenshot of the page
Image source: https://www.panewslab.com/zh/articles/01a0e782-2443-7794-b05e-41b2e82326c9
This pullback in Bitcoin isn’t driven by a single piece of news. It’s more like multiple assets at the same time are deleveraging.
According to PANews citing QCP, on Monday, September 28, global markets opened under pressure. Ahead of trading, the Nasdaq 100 index fell from 744.45 to 737.76, gold dropped from $4,260 to $4,147, BTC fell from $84,500 to $82,800, and the U.S. dollar index also weakened. QCP believes geopolitics is the main driver: over the weekend, the U.S. rejected a proposal for a ceasefire targeting the Strait of Hormuz, concerns about disruptions to energy supply resurfaced, and Brent crude surged.
This week, the U.S. macroeconomic calendar is packed. The PCE price index and the nonfarm payrolls report will continue to influence expectations for policy. QCP also noted that implied volatility in the front end of crypto options remains elevated, with dealers pricing downside protection. Spot Bitcoin ETF flows also appear hesitant amid broader liquidations.
On one side, geopolitics boosts oil prices and inflation expectations; on the other, macro data and risk assets are pressured in sync—so BTC’s key support levels naturally draw more attention. Do you want to first see whether the area around $82,000 can hold, or whether to focus first on this week’s PCE and the reaction to nonfarm payrolls?
Figure 1: BTC faces pressure and falls back to $828,000 · Source: partial screenshot of the page
Image source: https://www.panewslab.com/zh/articles/01a0e782-2443-7794-b05e-41b2e82326c9
