Bitcoin registered an intraday low of $82,775.94 on September 29 before rebounding above $83,000, close to the breakeven threshold estimated at $81,722 for the average ETF holder according to Bloomberg analyst James Seyffart. A decline of approximately 2.2% from the current mid-$83,000 level would be enough to push the average position back into loss territory. US inflation data PCE on September 30, along with the ADP employment report and the third estimate of second-quarter GDP, will serve as the potential catalyst for this move. Key reference levels to watch include the $84,000-$85,000 resistance zone identified by Glassnode and the 365-day moving average of $80,500 calculated by Axel Adler Jr. Bitcoin was down 0.79% over 24 hours at the time of publication.
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