Bitcoin has recovered to approximately $82 500 following a decline below $80 000 last week. The cryptocurrency reached a low of $79 770 on Thursday, driven by US inflation data showing a 3.7% annual rise in consumer prices, which exceeded the 3.6% forecast.
Market sentiment remains sensitive to macroeconomic factors, including oil prices and Federal Reserve policy. Markets currently estimate an 87% probability that the Federal Reserve will maintain interest rates at the October 28 meeting. However, US spot Bitcoin ETFs reported net outflows of $228 million last week.
Analysts from Bitunix identify the upcoming US Energy Information Administration crude oil inventory report as a key market catalyst. Bitcoin maintains an immediate support level at $80 000, while a move above the $84 000 to $85 000 range is viewed as a signal of renewed buying demand.
Broader market performance remains weak, with only 40% of 300 tracked cryptocurrencies recording gains last week. Basic Attention Token (BAT) rose 99.43%, supported by the Brave browser ecosystem, which claims 128 million monthly users and 200 000 Brave Rewards Card registrations.
Ethereum scaling tokens ZK and STRK also saw gains exceeding 40% each. Despite these individual movements, analysts note that such performance does not necessarily reflect a widespread market recovery or increased adoption across the sector.
