Bitcoin has moved back above $84,000 this weekend, extending a calm recovery after last week's sharp sell-off. On Saturday the price traded around $84,100 on major exchanges, up a little over 1% in 24 hours, with the day's high sitting just above $84,100.
The move puts Bitcoin roughly 4 to 5 percent above its low from October 8, when it dipped close to $80,300 during the worst of the selling. Ethereum has also joined the recovery, moving back above $2,500, while Solana is trading back above $110 after spending time below that level.
The recovery is still small compared with the damage done earlier in the week. Bitcoin funds saw about $681 million leave in the week to October 9, Ethereum funds lost money for nine straight days, and more than $2 billion in leveraged positions were wiped out as prices fell. That is why many traders are calling this a bounce, not yet a confirmed turnaround.
For traders, the levels are clear. Holding above $84,000 is the first good sign, and a push toward $85,000 would show stronger confidence. On the downside, $83,000 is the level to defend, with $80,000 below it. The next big test comes on Wednesday, October 14, when US September inflation (CPI) data arrives, with headline inflation expected near 3.7 percent. A softer number could help Bitcoin, while a hot number could lift yields and the dollar and pressure crypto again.
In short, Bitcoin buyers have won back an important level this weekend, but the market is still waiting for the CPI report and fresh ETF money before trusting the recovery fully.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Coinscreamer, Cointime, CoinCentral, CoinGecko price data
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