Bitcoin Pauses Ahead of October Fed Decision

After briefly slipping under 80,000 dollars, bitcoin climbed back above 83,000. Traders are now focused on the Federal Reserve’s rate decision expected next month.

HTX lead analyst Cloud sees the price stuck between 80,000 and 84,000 until the meeting. Spot ETF outflows over the past two weeks added selling pressure, yet shrinking exchange reserves and long-term holders refusing to sell are keeping the market balanced.

An upside breakout would require a daily close above 84,200, net ETF inflows exceeding 500 million dollars over three days, and funding rates at or below 15 percent. On the downside, a break under 79,800 combined with weekly ETF outflows above 500 million could strengthen bearish momentum.

Still, the coin has found support at 80,000 multiple times in the past month, suggesting any dip below that level may prove short-lived.

Based on information from cryptonews.net