CoinDesk
Bitcoin fell as low as $80,400 on Thursday before buyers stepped in at the 50-day moving average, lifting the price back to roughly $82,600 by Friday. FxPro chief market analyst Alex Kuptsikevich framed the rebound as further confirmation of demand on pullbacks, noting the same level has acted as support since July. SOL was the laggard among majors, shedding nearly 4% to around $110, while XRP and HYPE were little changed. The broader CoinDesk 20 index slipped about 2%.
Why it matters
The 50-day moving average is the level traders watch for the medium-term trend, and BTC has respected it for three months. Kuptsikevich called Thursday's bounce "further confirmation of buying interest during pullbacks", not a one-off relief rally. The macro backdrop also eased: President Donald Trump pledged not to attack Iran until after the U.S. midterm elections, sending Brent crude below $103 a barrel from a two-week high and relieving the inflation pressure that had pushed Fed minutes toward another rate hike. Equities joined the bid, with Nasdaq 100 futures gaining nearly 1% on reports that OpenAI expects to reach $70 billion in annualized revenue by year-end.
Market impact
Bitcoin is now testing overhead resistance near $82,600, with the 50-week exponential moving average around $78,000 standing as the next major support if the bid fails. A confirmed breakout above the local range would re-engage momentum strategies that faded during the week's drawdown, while a rejection would likely send price toward that $78K floor next. SOL's relative weakness and the broad-based CoinDesk 20 decline suggest this remains a BTC-led tape, with altcoin participation still selective and tied to BTC's next move.
Frequently asked questions
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Why did Bitcoin bounce from $80,400?
Buyers stepped in at the 50-day moving average, a level that has acted as support since July. FxPro's Alex Kuptsikevich called the rebound further confirmation of demand on pullbacks, not a one-off relief rally.
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How does Trump's Iran pledge affect crypto?
Trump pledged not to attack Iran until after the U.S. midterm elections, sending Brent crude below $103 a barrel from a two-week high. Lower oil eases inflation fears and reduces pressure on the Fed to hike rates, supporting risk assets like BTC.
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What is Bitcoin's next key support level?
The 50-week exponential moving average sits around $78,000. A failure to clear overhead resistance near $82,600 would likely send BTC to test that floor next.
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Which altcoins lagged during the rebound?
SOL was the worst performer among majors, shedding nearly 4% to around $110. XRP and HYPE were little changed, and the broader CoinDesk 20 index slipped about 2%.
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What drove the broader risk-on move in equities?
Nasdaq 100 futures gained nearly 1% on reports OpenAI expects to reach $70 billion in annualized revenue by year-end. S&P 500 futures rose less than 0.5%, and bond yields steadied.
Benjamin Cowen
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