Bitcoin is trading near $82,400 on Monday afternoon, down 1.5% against the U.S. dollar, as investors await pivotal U.S. inflation data. The cryptocurrency has surrendered 3.5% over the past seven days, though it remains 6.7% higher than its valuation from September 12.
Crypto liquidations reached $304.24 million across 89,032 traders on Monday, with $42.02 million in Bitcoin long positions and $21.19 million in Bitcoin short positions liquidated. The broader crypto market, valued at $2.79 trillion, declined 1.82% over the past 24 hours.
Support Levels and Market Positioning
Bitfinex analysts noted that Bitcoin has held its ground after recent declines, but evidence of meaningful buyer returns remains limited. According to their analysis, approximately 1.45 million BTC is held at a small loss, with an aggregate cost-basis between $84,000 and $86,500.
The share of Bitcoin supply in profit stands at 69.6 percent, below the 75 percent level that has accompanied sustained advances. Bitfinex strategists indicated that $81,300 represents a key support level being monitored closely.
Wall Street Mixed as Treasury Yields Rise
U.S. equity markets delivered mixed performance on Monday. The Dow advanced approximately 0.4%, the S&P 500 remained essentially flat, and the Nasdaq retreated roughly 0.3%. U.S. Treasury yields hovered near 5.24%, while oil prices climbed, adding pressure to equities.
Inflation Reports on Deck
The consumer price index (CPI) and producer price index (PPI) reports are scheduled for release on October 14 and 15. These inflation gauges could influence the Federal Reserve's forthcoming interest rate decisions.
Bitfinex analysts suggested that a higher-than-expected CPI reading would increase the odds of an October rate increase and push Treasury yields up, potentially resuming ETF outflows. A lower-than-expected reading would reduce October rate risks, though recent trading patterns show that positive macroeconomic news has lifted Bitcoin only when accompanied by spot buying interest.
