Bitcoin price eyes $82K as Morgan Stanley strategist says most of correction is over — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Bitcoin extended an intraday rebound to $81,687 on Bitstamp in TradingView data, avoiding new lower lows on hourly timeframes, while CoinGlass data showed bid liquidity thickening around $79,000 and $80,000.
- Morgan Stanley chief US equity strategist Mike Wilson told CNBC that "most of the correction is already over," arguing tech stocks are entering a new bullish phase after October's sell-off, following four or five months in correction mode.
- Rekt Capital said Bitcoin's weekly chart still resembles 2022's structure, with the pair yet to discard a "macro accumulation range pattern" between $60,000 and $80,000 and resistance around $82,000 still unbroken.
- CME Group's FedWatch showed 90.6% odds the Fed holds rates at its Wednesday meeting in the current 3.75%-4% range.
- KOSPI finished Wednesday's session up 6.6%, returning above 6,000 points for the first time since Oct. 14 with a 9.3% week-to-date gain, as crypto markets strengthened with nerves over AI spending and debt financing easing.
- Nasdaq Composite closed Tuesday up 1.1% ahead of Microsoft, Alphabet, Amazon and Intel earnings, with Samsung due to report Q3 results Thursday.
Why it matters: Bitcoin traders have two concrete markers now: $82,000 resistance, and the $60,000-$80,000 accumulation range the weekly chart has yet to discard, with Rekt Capital noting the structure still resembles 2022. The Fed's Wednesday meeting, priced at 90.6% odds of a hold at 3.75%-4%, is the next scheduled catalyst in that backdrop.
Ask SkimNews
