Bitcoin pushed higher Friday, posting a 2.3 percent gain to trade at $82,679. The move follows a Thursday drop to $80,350 and coincides with rolling 24-hour crypto liquidations exceeding $1 billion across the market.
On-chain data from CoinGlass shows spot price cutting through ask-side liquidity on exchange order books. Liquidity has thickened around the $84,000 level, marking key resistance for further upward movement.
The $82,500 level remains critical for bulls. It has served as support since mid-September and forms part of a potential inverse head-and-shoulders reversal pattern, mirroring a similar formation observed in 2023.
Bitfinex Alpha anticipates range-bound trading will persist until Oct. 14. The primary outlook projects consolidation between $81,300 and $86,500, with repeated retests of $84,000 ahead of fresh U.S. inflation data.
The Oct. 14 release of U.S. Consumer Price Index data is a critical macroeconomic event. Traders are positioning for potential volatility around the inflation report.
Binance BTC outflows recently hit their highest level since mid-2023, coinciding with whales depositing stablecoins onto the exchange, indicating potential re-allocation strategies.
Ledger issued a direct advisory to users: "If you have set up your Ledger device, consider moving assets to a new Ledger signer (with new seed)." The recommendation followed a reported security breach. Manufacturer Coldcard experienced a multi-phase hack in July and August, raising broader concerns within the digital asset security sector.
