Bitcoin is currently hovering near $83,600, having pulled back from levels above $86,000 reached in early October. Several attempts to break higher fell flat, and the token has drifted into a corrective phase—all while the fundamental backdrop keeps working against the crypto.
Let's start with the biggest headwind. The situation in the US debt market is still a key drag. First, the numbers: last week, the yield on 10‑year US Treasuries hit 5.36%—a peak not seen in over two decades. Returns this high make government bonds look quite tempting, and capital is quietly rotating out of riskier plays into safer ground. On top of that, a firmer dollar adds to the pain, as it tends to cool demand for BTC.
Then there is the Federal Reserve (Fed). Uncertainty over its next policy move is keeping a lid on prices. Sure, the US labor market is showing signs of cooling, but stubborn inflation is boxing the American regulator in and limiting how fast it can loosen its monetary stance. This brings us to this week's big event—all eyes are on September's US inflation data, a print that could reshape expectations for the central bank's future trajectory. If the Consumer Price Index (CPI) comes in hot, the odds of another interest rate hike will jump, and this could spark a new round of selling across the digital asset market.
So, what do the charts say? On the technical side, the king crypto is primed for a bearish move, with $80,500 acting as its key downside target. In other words, the path of least resistance points lower.
The ultimate recommendation is to sell Bitcoin at the current price ($83,600), aiming to reach $80,500 within one month. To keep risk in check if the market moves against us, place a Stop Loss order at $85,000.
This content is for informational purposes only and is not intended to be investing advice.
