Bitcoin Holds $82,500 Support Ahead of US CPI Data — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin defended $82,500 support at Sunday's weekly close (~$83,700), avoiding a slide into its 2026 macro range of $60,000–$80,000 despite a 3.2% weekly decline on the week.
- US CPI for September lands Wednesday with markets expecting 3.7% YoY versus 3.4% in August; PPI follows Thursday at 0.3% MoM expected, with the FOMC's Oct. 28 rate decision on deck.
- CME FedWatch shows just 18.8% odds of a rate hike on Oct. 28, but 70.6% odds of a 25bp December hike to 4.00–4.25%, reflecting expectations the Fed holds steady first.
- Trump announced a deal to buy 300,000 tons of Russian diesel and declared an 'energy ceasefire' between Russia and Ukraine; Zelenskyy said he was unaware, and WTI crude bounced ~2% to $91.50 from an intraday low of $89.60.
- Analyst Rekt Capital called a weekly close above $82,500 a 'successful' support retest, while Aksel Kibar drew parallels to the S&P 500's multiple key-level retests since May at 7,300 and 7,600 points.
- Fed Chair Kevin Warsh is scheduled to hold a discussion with IMF MD Kristalina Georgieva in Bangkok on Friday — a potential catalyst for fresh signals on the rate path.
Why it matters: Bitcoin's defense of $82,500 keeps bullish positioning intact ahead of Wednesday's CPI print, where a cooler-than-expected reading could reduce Fed tightening odds and pull capital back into risk assets like crypto, stocks, and gold. A hot print that confirms the expected jump to 3.7% would test that floor and risk opening the door to the $60,000–$80,000 macro range bulls are actively defending.
Ask SkimNews
