Bitcoin has fallen sharply since its all-time high of $126,000 reached on October 6, dropping back below $83,000. The key support zone to watch lies between $80,500 and $81,500, where the daily Kijun and several moving averages converge. On October 7, over $400 million in leveraged positions were liquidated and US Bitcoin ETFs recorded $485 million in net outflows, their worst daily performance since late June. As long as Bitcoin holds above $80,500 on daily close, the underlying structure remains bullish, but it must reclaim $85,000 to genuinely end the decline.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
