Overview:
Bitcoin trades near USD 83,490 after defending the USD 81,000 zone.
Zcash led the top 12 coins with a 4.4% gain.
Strive launched SATS preferred stock to raise USD 500 million.
Bitcoin trades near USD 83,490 after rebounding from the USD 81,000 zone earlier this week. Buyers pushed the price toward USD 84,000 before momentum cooled.
The global crypto market cap stands near USD 2.8 trillion, up 1.27% in 24 hours. The Fear and Greed Index reads 55, which signals neutral sentiment. Traders now await US inflation data later today.
Bitcoin Price Today
Bitcoin trades at USD 83,493.23, up 0.6% in the past 24 hours, according to CoinGecko. Its market capitalization stands near USD 1.68 trillion. The coin has also gained 0.5% over the past seven days.
Below is today's quote roundup from leading crypto desks on Bitcoin's near-term structure.
Mudrex: Resistance Test Amid Equity Weakness
Prateek Gupta, Head of Business at Mudrex, noted that Bitcoin tested resistance at USD 84,000 despite weak equities. Kospi shed about 5% on AI valuation worries. Strive bought 3,311 BTC, taking its stack to 32,773 BTC. Support stays at USD 81,500, with resistance at USD 84,500.
Delta Exchange: Relief Recovery, Not a Reversal
Riya Sehgal, Research Analyst at Delta Exchange, said Bitcoin bounced from below USD 81,000. Roughly USD 774 million in liquidations preceded the move. She calls it a relief recovery, not a confirmed reversal. Holding the 4-hour EMA cluster near USD 83,200 to USD 83,400 keeps momentum intact.
WazirX: ETF Outflows Absorbed by Spot Buyers
Nischal Shetty, Founder of WazirX, said US spot Bitcoin ETFs saw USD 65.4 million in outflows, all from BlackRock's IBIT. Ethereum ETFs lost USD 85.43 million, stretching withdrawals to ten sessions. Bitcoin still rose 0.31%, so spot buyers absorbed the selling. Support sits at USD 83,000 to USD 83,250.
BitDelta India: Sellers Remain Active Near USD 84,000
Purvang Mashru, Lead Analyst at BitDelta India, said Bitcoin recovered 1.5% to about USD 83,246 while Ethereum rose 2.2%. The rebound has not erased the October 13 sell-off. Bitcoin slipped back from USD 84,070, so sellers remain active near USD 84,000. Support sits near USD 81,951.
Also Read: Crypto Liquidations Top USD 803M as SanDisk Futures Surpass XRP
Crypto Prices Today: Top 12 Coins at a Glance
Source: CoinGecko, prices as of today's session.
Biggest Gainers and Losers Today
Zcash led the top 12 with a 4.4% gain, followed by Dogecoin at 1.0% and XRP at 0.7%. Bitcoin added 0.6% to hold above USD 83,000. Figure Heloc was the lone loser, slipping 3.6%, while Tether and USDC stayed flat.
Crypto News Today: Top Headlines Impacting Prices
US CPI Data and Fed Rate Talk Set the Tone for Bitcoin
The US releases September CPI data today, and traders watch it closely. New York Fed President John Williams said another rate hike this year could be appropriate.
Williams sees no reason to expect further hikes next year. A soft print would ease Treasury yields and support risk assets. A hot reading could push Bitcoin back toward USD 81,000.
Strive Launches SATS Preferred Stock to Fund More Bitcoin Buying
Strive launched SATS, a perpetual preferred stock with a 15% annualized dividend yield. The company plans to raise USD 500 million, partly for additional Bitcoin purchases. Strive bought 3,311 BTC last week, lifting its total to 32,773 BTC.
Continued accumulation gives the market a steady demand source. A 15% dividend, however, raises the company's cost of capital. Prolonged price weakness could slow future purchases, while long-term holders remain a possible supply source.
Dormant Bitcoin Whale Moves 4,582 BTC After Years of Inactivity
An early Bitcoin holder dormant for years moved 4,582 BTC, worth about USD 378 million. The destination of the funds remains unconfirmed. The transfer surfaced in today's on-chain data. Large dormant wallets rarely move without drawing attention.
Long-term holders still sit on unrealized gains near 72%, based on an average cost near USD 48,600. Their SOPR sits above its annual average, which signals continued profit-taking. Fresh institutional buying must absorb any added supply.
Ledger Confirms Tampered Wallets Sold by Southeast Asian Distributor
Ledger confirmed that hardware wallets sold by distributor CryptoBilis carried malicious components. The implants could steal users' recovery phrases. A European retailer has reportedly paused sales. Ledger is reviewing its sales policies and anti-tampering protections.
The episode highlights supply chain risk for self-custody users. Buyers should purchase devices only from official channels. Security concerns rarely move prices directly, though they can dent confidence in hardware wallet adoption. Traders will watch for further disclosures this week.
Sberbank Gains Approval to Offer Crypto Exchange Services
Russia's largest bank, Sberbank, received approval to offer cryptocurrency exchange services. The lender plans to launch the service on December 1. The move brings regulated digital asset access to a large retail customer base.
Large banks entering the segment often improve market legitimacy. Trading volumes will depend on final rules and pricing. The launch also tests how domestic banks compete with offshore exchanges.
Metaplanet Plans Share Buyback and Convertible Bond Issue
Japanese Bitcoin treasury firm Metaplanet plans to repurchase 96.93 million shares in an over-the-counter deal worth about 25.3 billion yen. It also plans to issue 52 billion yen in convertible bonds. The proceeds will repay Bitcoin-backed loans.
The buyback may support the share price and narrow the gap to net asset value. Refinancing loans reduces liquidation risk for the treasury. Treasury firms remain a key demand channel, so investors will watch whether Metaplanet keeps adding Bitcoin.
Also Read: Binance to Shut Down Crypto Mining Pool and Cloud Mining Services Soon
Investor and Market Outlook
Bitcoin holds above the USD 81,000 support zone. The USD 84,000 to USD 84,500 band remains the first major resistance. A close above USD 84,070 could open USD 85,000. A break below USD 81,951 may expose USD 80,000. US CPI today is the next catalyst. Investors should favor staggered entries, modest sizing and low leverage.
FAQs
1.What is the Bitcoin price today?
Bitcoin trades at USD 83,493.23, up 0.6% over the past 24 hours, per CoinGecko. Its market capitalization stands near USD 1.68 trillion, while the coin gained 0.5% across the past seven days.
2.Why is crypto up today?
Crypto rebounded as buyers defended USD 81,000 after Monday's sell-off. Zcash jumped 4.4%, while Strive's accumulation and easing Treasury yields lifted sentiment. Traders remain cautious ahead of the US CPI report.
3.Which coins gained the most today?
Among the top 12 coins, Zcash gained 4.4%, Dogecoin added 1.0% and XRP rose 0.7%. Figure Heloc fell 3.6% as the only decliner, while Tether and USDC stayed flat near USD 1.
4.What should investors watch this week?
Track Bitcoin support near USD 81,951 and US CPI today. The Beige Book and PPI data follow on October 15, while Waller speaks on October 16. Bitcoin must clear USD 84,070 to extend gains.