Bitcoin Rebounds as $84,000 Resistance and CPI Loom

Bitcoin rebounded from a low near $80,953 to about $83,592, recovering more than 2% and moving back above the $81,848–$82,306 Fibonacci zone. The bounce is a modestly positive signal, but Bitcoin has yet to clear resistance around $84,000–$84,500, where sell orders have been concentrated. A daily close above $84,246 could bring $86,644 and roughly $87,423 into focus; a drop below $81,603 may expose support near $80,000, followed by $77,500 if that level fails. Indicators are mixed: the RSI is slightly positive at 53.4, while the ADX has fallen to 29.9 from 42.8 on 7 October, suggesting the uptrend has lost strength. The 50-day EMA remains above the 200-day EMA. Market sentiment is neutral, with the Fear and Greed Index near 55. Prediction-market traders assign a 54% chance of Bitcoin reaching $80,000 this month and a 45% chance of reaching $87,500. Bitcoin ETF outflows remain a headwind. The reports give different October-to-date estimates—about $451 million in the earlier account and $386.3 million in the later one—alongside weak institutional demand. The earlier report also noted pressure from a sharp decline in South Korean technology shares. Traders are now watching US CPI, expected to show annual inflation rising to 3.6% from 3.4%, as well as Treasury yields and geopolitical developments. Strong inflation or continued outflows could weigh on Bitcoin, while softer data and a break above resistance may support further recovery.