đ¨ $BTC Rebounds Above $82K Is a Recovery Coming?
Bitcoin is showing signs of recovery after Thursdayâs sharp sell-off.
Hereâs what you need to know:
Whatâs Driving the Bounce?
U.S. President Donald Trump said the United States would not attack Iran before the November 3 midterm elections. This helped ease some geopolitical concerns and supported Bitcoinâs recovery.
ETF Investors Are Still Cautious
U.S. spot Bitcoin ETFs recorded approximately $244 million in net outflows on October 8, following nearly $485 million in outflows the previous day. Thatâs around $729 million in withdrawals over two sessions.
Key BTC Levels to Watch
Support: $82,000 and $80,400
Resistance: $83,500 and $84,500
Bullish Scenario: If BTC breaks above $83,500 and holds that level, further upside could become possible.
Bearish Scenario: If Bitcoin loses the $82,000 support, the price could revisit lower levels near $80,400.
Bitcoinâs recovery looks encouraging, but ETF outflows and the broader weekly downtrend remain concerns. A short-term bounce does not automatically mean the market has turned bullish.
What do you think? Will BTC break above $83,500 or face another rejection?
#CryptoMarket
#EarningsSeason
Bitcoin is showing signs of recovery after Thursdayâs sharp sell-off.
Hereâs what you need to know:
Whatâs Driving the Bounce?
U.S. President Donald Trump said the United States would not attack Iran before the November 3 midterm elections. This helped ease some geopolitical concerns and supported Bitcoinâs recovery.
ETF Investors Are Still Cautious
U.S. spot Bitcoin ETFs recorded approximately $244 million in net outflows on October 8, following nearly $485 million in outflows the previous day. Thatâs around $729 million in withdrawals over two sessions.
Key BTC Levels to Watch
Support: $82,000 and $80,400
Resistance: $83,500 and $84,500
Bullish Scenario: If BTC breaks above $83,500 and holds that level, further upside could become possible.
Bearish Scenario: If Bitcoin loses the $82,000 support, the price could revisit lower levels near $80,400.
Bitcoinâs recovery looks encouraging, but ETF outflows and the broader weekly downtrend remain concerns. A short-term bounce does not automatically mean the market has turned bullish.
What do you think? Will BTC break above $83,500 or face another rejection?
#CryptoMarket
#EarningsSeason