Bitcoin is starting a new trading week near $83,000, with Ethereum holding around $2,500, but traders are nervous. After a rough week of selling, all eyes are now on U.S. inflation data that could decide whether the famous "Uptober" rally survives or fails.
The ETF numbers explain the worry. U.S. spot Bitcoin ETFs took in a small $21 million on October 9, and almost all of it went into BlackRock's IBIT fund. But over the full week, about $681 million left Bitcoin ETFs — the biggest weekly outflow in more than three months. That means big investors are still cautious, even if one day of buying returned.
Derivatives traders are also turning defensive. Reports say bearish bets against Bitcoin have been rising while spot demand stays weak. Some traders are even watching a possible move toward $60,000 if key support levels break and the macro news turns bad this week.
The biggest test comes on Wednesday, when U.S. CPI inflation data is released, with headline inflation expected near 3.7%. Producer price data follows on Thursday, and a Fed speech is scheduled for Friday. If inflation comes in hotter than expected, traders fear the Federal Reserve will stay tough for longer, which usually hurts risky assets like crypto.
There is more on the calendar too, including token unlocks for projects like Aptos and Arbitrum and a Friday options expiry, which can add extra price swings. For traders, the message is simple: this is a news-driven week, leverage is risky, and Bitcoin's $81,000 to $83,000 zone will be watched very closely for the next big move.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: AMBCrypto, CoinCentral
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