Bitcoin has retreated toward USD 84,000 following an inability to sustain levels above USD 87,000, placing nearby chart support under strain. Data from CoinGecko shows BTC changed hands near USD 84,575 on Oct. 3, marking a 2.7% decline over a 24-hour period. This pullback came on the heels of a short-lived rally on Friday, which was sparked by softer U.S. employment figures that drove Treasury yields downward.
Bitcoin price tests support near USD 84,000
According to TradingView’s Binance daily chart, Bitcoin peaked at USD 87,220 before slipping back toward the USD 84,012 Fibonacci mark. This price point corresponds to the 61.8% retracement level measured from the USD 126,294 to USD 57,877 range.
Despite the dip, Bitcoin held above its earlier September trading range following a rebound from roughly USD 75,000. Repeated attempts to move beyond USD 86,000–USD 87,000 plateaued near recent highs, capping the latest upward surge beneath resistance.
The daily relative strength index registered at 60.69, sitting below its 64.92 moving average. While the reading stayed above the 50 threshold, its position underneath the average signaled diminishing bullish momentum.
On the four-hour timeframe, Bollinger Bands positioned the middle line at USD 84,227, with the upper boundary at USD 86,092 and the lower boundary at USD 82,362. The lower band aligned closely with the broader USD 82,000–USD 83,000 support zone.
Concurrently, the Awesome Oscillator stayed positive at 1,557.71, though its most recent red bar indicated cooling positive momentum following a sequence of rising green bars.
Weak jobs data drives Friday’s brief rally
Bitcoin touched USD 87,229 on Bitstamp on Friday after September nonfarm payrolls printed at 29,000, falling short of the 84,000 jobs anticipated by economists. Additionally, government officials revised August’s job growth downward from 162,000 to 133,000.
U.S. Treasury yields declined for a second consecutive session. The 10-year yield hovered near 5.2%, whereas the 30-year yield settled at 5.573%. Meanwhile, U.S. equities climbed, with the S&P 500 gaining 1% and the Nasdaq Composite advancing 1.8%.
Ahead of the jobs report, QCP Capital wrote, “For Bitcoin, a Treasury relief rally would provide the cleanest upside catalyst.” The organization tied this outlook to softer wage growth alleviating pressure on long-term bond yields.
Ultimately, Bitcoin relinquished a portion of its gains as heavy sell orders stationed above the market capped the upward movement, dragging the price back under USD 86,000.
Liquidation levels surround Bitcoin’s trading range
A liquidation heatmap from CoinGlass highlighted a dense cluster of orders around USD 83,500 situated just beneath the current price. Higher up, concentrations surfaced near USD 85,100, the USD 86,000–USD 86,400 band, and a substantial cluster around USD 87,700.
Additional pockets of interest were noted near USD 82,600–USD 82,800 and USD 82,000. These zones coincided with established chart support, though analysts noted that heatmaps alone cannot predict Bitcoin’s immediate trajectory.
Market observers pointed to significant buy orders resting between USD 80,000 and USD 82,000, alongside selling pressure stretching up toward USD 90,000. A successful recovery hinges on lower bids holding firm while buyers absorb overhead sell walls.
Altcoin Sherpa said buying interest could reemerge near support, though cautioned, “If we lose 82k or something then I think it starts to get really nasty.”
$BTC I think we're still at support personally, volume profile shows this area should be a good spot for a bounce. If we lose 82k or something then I think it starts to get really nasty but for now, I think you can still expect to see some buying coming in soon pic.twitter.com/K71U1LHW3K
— Altcoin Sherpa (@AltcoinSherpa) October 2, 2026
Bitcoin ETF buying slows sharply
U.S. spot Bitcoin exchange-traded funds pulled in provisional net inflows totaling USD 82.9 million between Sept. 28 and Oct. 2, according to Farside Investors. This marked a sharp deceleration compared to the approximately USD 2.39 billion gathered during the prior week. Friday’s aggregate remained partial as BlackRock’s IBIT data had yet to be reported.
Although funds attracted capital across four sessions, Wednesday’s USD 148.7 million outflow weighed down the weekly tally. Thursday saw USD 102.7 million enter the funds, followed by a provisional USD 31.7 million on Friday.
IBIT absorbed USD 292 million through Thursday. Conversely, Fidelity’s FBTC experienced USD 167.9 million in weekly redemptions, Bitwise’s BITB shed USD 38.6 million, and Grayscale’s GBTC registered USD 54.6 million in net outflows.
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