Bitcoin Holds $82.5K as Crypto Shrugs Off Ledger Theft Reports — SkimNews
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- Bitcoin rebounded from Thursday's local low of $80,350 to reclaim $83,000 at Friday's Wall Street open, with rolling 24-hour crypto liquidations surpassing $1 billion per CoinGlass data.
- Ledger acknowledged the theft reports on X and traced them to CryptoBillis, a Southeast Asian reseller, advising affected users to migrate assets to a new device with a fresh seed phrase.
- Crypto markets avoided significant selling pressure despite cross-coverage estimates placing the stolen user funds at $86–$87 million, with BTC trading sideways around the key $82,500 support level.
- The Nasdaq Composite opened higher Friday after earlier-week pressure from weaker-than-expected OpenAI earnings projections, though Vital Knowledge's Adam Crisafulli warned AI-linked tech stocks are unlikely to stage a quick rebound given 'extreme positioning imbalances that have further to unwind.'
- BTC/USD clung to the $82,500 support — a level held since mid-September that also forms part of a potential inverse head-and-shoulders reversal pattern similar to one from 2023.
- Bitfinex Alpha forecast range-bound consolidation between $81,300 and $86,500 heading into the October 14 US CPI data release, with repeated retests of $84,000 expected.
Why it matters: The Ledger theft — over $86 million tied to a third-party reseller, not a device flaw — tests whether supply-chain attacks can dent crypto confidence without crashing prices. With BTC clinging to the $82,500 floor held since mid-September and US CPI data due October 14, traders face a binary setup: defend support or break lower into next week.
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