Bitcoin is trading near $82,700 after recovering from a drop below $80,500, outperforming Ethereum and the broader altcoin market despite ongoing macroeconomic uncertainty. Yusuf Fakhro, partner at ARP Digital, attributes the rebound to Bitcoin’s relative strength, reduced leverage and easing selling pressure, with funding rates falling to their lowest since June. Bitcoin fell from approximately $86,000 as weakness in technology stocks and elevated Treasury yields weighed on risk assets, with its correlation to the Nasdaq climbing to its highest level since June. The next major test will come from the Fed’s October 27 and 28 policy meeting, as US consumer inflation accelerated to 3.7% annually in September and oil prices remain elevated near $108 per barrel.
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