Bitcoin rebounds near $83,000 ahead of US inflation data
Bitcoin recovered after an early dip, while ETF investors kept selling and altcoins lagged. Traders are waiting on the US consumer price index report.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
This story is no longer being updated. It reflects reporting up to .
What happened
Bitcoin climbed back above $83,000 after an early dip, decoupling from a sharp slide in Korean chip stocks and weakness in Nasdaq futures. The rebound came as rising US bond yields, dollar strength and ETF outflows weighed on sentiment, while Ethereum, XRP and other altcoins stayed weak. Traders were positioning ahead of the US consumer price index report due Wednesday.
Why it matters
Analysts said further downside was possible before any rally, with the US inflation data seen as the next key catalyst. Support was reported near $81,000 and resistance near $84,000.
Timeline
- Oct 13, 12:18 AM ET: Bitcoin climbed back above $83,000 after an early dip, decoupling from a slide in Korean chip stocks.
- Oct 13, 6:39 AM ET: Bitcoin consolidated near $83,000 as rising US bond yields, dollar strength and ETF outflows weighed on sentiment.
- Oct 13, 2:05 PM ET: Bitcoin rebounded from $80,000 to above $83,000 ahead of CPI data, despite $727M in liquidations and ETF outflows.
- Oct 14, 2:57 AM ET: Bitcoin was flat at $83,000 as markets awaited U.S. inflation data.
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