Overview:
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Bitcoin trades near USD 83,075 as ETF inflows offset bond market pressure.
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Zcash leads the top 12 gainers, while Hyperliquid lags ahead of a token unlock.
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Wednesday’s PCE data and Friday’s payrolls could trigger fresh volatility.
Bitcoin is currently changing hands near USD 83,075 following a failed weekend attempt by buyers to sustain levels above USD 85,100. The wider cryptocurrency market capitalization hovers around USD 2.93 trillion, with Bitcoin’s market share sitting at 57%.
Demand for spot ETFs continues to act as a stabilizing anchor, recording inflows across seven consecutive sessions. Because elevated Treasury yields continue to keep risk appetite cautious, market participants are keeping a close eye on Wednesday’s PCE print and Friday’s employment figures.
Bitcoin Price Today
Bitcoin is priced at USD 83,075.59, marking a 1.1% decline over the past 24 hours according to live CoinGecko data. Its market capitalization sits at approximately USD 1.67 trillion, alongside a 24-hour trading volume of roughly USD 27.43 billion.
Insights from prominent market desks regarding Bitcoin’s near-term structure are outlined in today’s daily quotes below.
Mudrex: Accumulation Meets Correction Risk
According to Prateek Gupta, Head of Business at Mudrex, Bitcoin is hovering around USD 84,000 backed by USD 2.4 billion in ETF inflows. Because profit margins have reached a 20-month high, the risk of a correction remains present, making a weekly close above May’s high an important indicator.
WazirX: Rate Odds Cap Liquidity Expansion
Nischal Shetty, Founder of WazirX, noted that markets are pricing in a 65% probability of an October Fed hike, which serves to constrain liquidity growth. Bitcoin trades near USD 83,775 with an RSI of 62, while support is established between USD 83,300 and USD 83,500.
Giottus: Leverage Builds After the September Rally
Vikram Subburaj, CEO of Giottus, pointed out that the market is currently consolidating following a robust September rally, during which leverage has steadily accumulated. He recommended using conservative leverage and staggered entry points ahead of the September 30 PCE inflation announcement.
Also Read: Bitcoin Dominance Falls as Altcoins and Privacy Gain Ground
Delta Exchange: Support Zone Comes Into Focus
Riya Sehgal, a Research Analyst at Delta Exchange, reported that Bitcoin retreated toward USD 83,500 following rejection near the USD 85,000 mark. A definitive breach below USD 83,300 could expose the USD 82,000 to USD 82,500 support area next.
Crypto Prices Today: Top 12 Coins at a Glance
Biggest Gainers and Losers Today
Zcash topped the leading 12 coins with a 4.6% daily increase, building on its ongoing monthly rally. Conversely, Hyperliquid performed the worst with a 3.2% drop as a USD 904 million token unlock approaches on Tuesday. Dogecoin and Ethereum experienced declines of 1.7% and 1.4% respectively, while stablecoins maintained their pegs.
Crypto News Today: Top Headlines Impacting Prices
Treasury Yields and Oil Pressure Bitcoin
The US 10-year Treasury yield hovered close to 5.17% earlier today after briefly touching 5.23%, marking its highest point since 2007. Traders are currently pricing in a 65% chance of an October Federal Reserve rate hike, tightening liquidity expectations across all risk-on assets.
WTI crude opened above USD 93 after former President Trump turned down Iran’s proposal to reopen the Strait of Hormuz over the weekend. Ongoing energy expenses continue to fuel inflation concerns, capping the extent of Bitcoin’s recovery momentum for the week.
Bitcoin ETF Inflows Continue
Data from SoSoValue published today indicates that US spot Bitcoin ETFs pulled in USD 2.386 billion over the past week. Friday alone accounted for USD 134.5 million in inflows, marking seven straight days of net positive flows for these investment vehicles.
Additionally, spot Ether funds gathered USD 86.95 million on September 25, extending their own consecutive inflow streak to six sessions. This consistent institutional purchasing amid choppy market conditions indicates that large investors view market pullbacks as buying opportunities, reinforcing the current price floor.
Bitget Resumes Withdrawals After Hack
Bitget is gradually reinstating withdrawal services today following a security breach that drained roughly USD 387.5 million from its hot and warm wallets. This incident represents the largest crypto exploit of the year to date, with investigators pointing toward potential North Korean involvement.
The exchange confirmed that the vulnerability has been patched and announced that its Protection Fund will reimburse all affected users. Meanwhile, THORChain faced criticism for declining to block flagged wallet addresses. Overall market prices remained steady, indicating that traders interpreted the exploit as an isolated event.
Quant Surges on Clearing House Deal
Institutional traders turned their attention to Quant after The Clearing House selected its technology to develop a tokenized bank-deposit clearing network. QNT is exchanging hands near USD 254, representing a surge of over 50% within a 24-hour window, per CoinGecko.
Trading volume rose to approximately USD 1.33 billion, pushing the token’s market capitalization to USD 3.70 billion. Growing enthusiasm for tokenization as Wall Street entities investigate on-chain settlement continues to bolster sentiment for real-world asset protocols.
Crypto Liquidations Rise
Approximately USD 270 million worth of cryptocurrency positions were wiped out over the past 24 hours as leveraged traders experienced a severe squeeze. Long positions took the brunt of the losses as Bitcoin retreated from USD 85,100 down toward USD 83,000.
Bitcoin’s implied volatility climbed, showing that traders anticipate wider price fluctuations moving forward. Because elevated leverage can exaggerate price movements in either direction, the upcoming PCE release on Wednesday serves as a crucial test.
Also Read: How Bitcoin Technical Analysis Works
Investor and Market Outlook
Bitcoin is currently testing the USD 83,300 support boundary as continuous ETF demand absorbs macroeconomic headwinds. A daily close above the USD 85,000 threshold would revive upward momentum, whereas a breakdown would direct focus toward the USD 82,000 to USD 82,500 range.
Market participants should closely monitor Treasury yields, ETF flow metrics, and the Wednesday PCE release. Employing staggered entries and conservative leverage remains a prudent strategy following recent market turbulence.
FAQs
1.What is the Bitcoin price today?
Bitcoin is trading at USD 83,075.59, down 1.1% over the last 24 hours. Continuous spot ETF investments have cushioned the downside despite Treasury yields hovering near peaks not seen since 2007.
2.Why is the crypto market under pressure today?
Risk assets are facing headwinds from elevated Treasury yields and heightened expectations of a Federal Reserve rate hike. Furthermore, sellers defended the USD 85,100 resistance level, prompting roughly USD 270 million in market-wide liquidations.
3.Are Bitcoin ETFs still seeing inflows?
Yes. US spot Bitcoin ETFs brought in USD 134.5 million on September 25, registering their seventh consecutive day of inflows. Total weekly inflows reached USD 2.386 billion, marking the highest weekly intake since last October.
4.What should investors watch this week?
Keep a close watch on Wednesday’s core PCE figures, Friday’s payroll data, and daily ETF flow reports. These upcoming events will determine whether Bitcoin can successfully defend the USD 3,300 support or drift downward toward the USD 82,000 mark.
