Bitcoin has started the new week on steady ground, holding above the important $82,500 support level after closing the week above it. The price was trading near $83,000, which means Bitcoin avoided falling back into its older $60,000 to $80,000 range from earlier in 2026. For many traders, that weekly close is a sign the broader structure is still intact, even after last week's sharp swings.
All eyes are now on US inflation data. The September Consumer Price Index, known as CPI, is due on Wednesday, October 14, and the Producer Price Index, or PPI, follows on Thursday. Markets expect headline inflation to rise to about 3.7% from 3.4% in August, with core inflation seen near 2.5%. Higher fuel prices linked to Middle East tensions are one reason traders expect the number to stay hot.
This report matters because it shapes what the Federal Reserve may do next. The Fed meets on October 28, and market pricing currently puts the chance of a rate hike at that meeting at only around 19%, down from over 40% a month ago. A cooler-than-expected inflation print would lower hike fears further and could help Bitcoin and other risk assets, while a hotter print would raise pressure on prices again.
Trader mood is much more careful than it was at the start of October. Sentiment gauges have cooled from very greedy levels near 80 to the mid-50s, ETF money saw heavy outflows last week, and oil prices and bond yields remain a headwind. At the same time, Bitcoin has so far defended the $80,000 area, which traders see as the key floor, while $85,000 to $85,500 is the next hurdle above.
For traders, the plan this week is simple: watch the CPI number first. A soft reading could open a move toward $85,000 and $86,000, while a hot reading could pull Bitcoin back toward $80,000 for another test of support. Fed Chair Kevin Warsh is also due to speak in Bangkok on October 15, and his comments on rates will be watched closely after the data.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, CoinDesk, TradingView
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