Red week: oil weighed on Bitcoin, three dates will determine what comes next
Bitcoin ended the week around $83,000, down about 2.2% over 7 days. Altcoins suffered more:
→ ETH: -7.1%
→ XRP: -6.9%
→ BNB: -5.0%
→ SOL: -9.5%
What weighed on the market: oil. Brent rose to nearly $110 $ on Thursday after a series of tanker attacks in the Strait of Hormuz, and Bitcoin briefly fell below $81,000. After Trump said an attack on Iran was off the table before November 3, Brent came back down toward $105 $ and Bitcoin toward $83,000. Two additional waves of more than $1B $ in liquidations also marked the week (CoinGlass).
Three dates to watch
→ Wednesday, October 14: U.S. September CPI
→ Wednesday, October 28: Fed decision; rates are expected to hold, with a hike floated for December
→ Friday, October 30: 140,844 Bitcoin options contracts (about $11.69B) expire; the largest hedge is at $80,000
Levels mentioned: $80,000 $ as support, the $83,300 to $84,600 $ zone to reclaim, and $87,000 $ as resistance.
My analysis: as long as Bitcoin stays below $83,300, I see this rebound as a test, not a reversal. This is a hypothesis, not a forecast.
This is not investment advice.
What is your key level this week: $80,000, $83,300 $ , or $87,000 $ ?#LedgerConfirmsUnauthorizedHardwareImplantInUserDevice #EtherETFsExtendOutflowsToNineDays
Bitcoin ended the week around $83,000, down about 2.2% over 7 days. Altcoins suffered more:
→ ETH: -7.1%
→ XRP: -6.9%
→ BNB: -5.0%
→ SOL: -9.5%
What weighed on the market: oil. Brent rose to nearly $110 $ on Thursday after a series of tanker attacks in the Strait of Hormuz, and Bitcoin briefly fell below $81,000. After Trump said an attack on Iran was off the table before November 3, Brent came back down toward $105 $ and Bitcoin toward $83,000. Two additional waves of more than $1B $ in liquidations also marked the week (CoinGlass).
Three dates to watch
→ Wednesday, October 14: U.S. September CPI
→ Wednesday, October 28: Fed decision; rates are expected to hold, with a hike floated for December
→ Friday, October 30: 140,844 Bitcoin options contracts (about $11.69B) expire; the largest hedge is at $80,000
Levels mentioned: $80,000 $ as support, the $83,300 to $84,600 $ zone to reclaim, and $87,000 $ as resistance.
My analysis: as long as Bitcoin stays below $83,300, I see this rebound as a test, not a reversal. This is a hypothesis, not a forecast.
This is not investment advice.
What is your key level this week: $80,000, $83,300 $ , or $87,000 $ ?#LedgerConfirmsUnauthorizedHardwareImplantInUserDevice #EtherETFsExtendOutflowsToNineDays