Analysts Say Bitcoin Bear Market May Be Over as BTC Holds Near $83,893
- —BTC trades near $83,893 within a $80,314–$87,397 range; RSI at 55.13, MACD still bearish
- —Bitcoin MVRV rose to 1.54 versus a 1.44 annual average, echoing 2019 and 2023 signals
- —Fourth consecutive weekly close above the 50-week moving average
- —U.S. spot Bitcoin ETFs posted $484.9 million in net outflows on Oct. 7
Why it matters: This week's U.S. CPI, PPI and retail sales data will decide whether BTC holds $80,314 or slides into the high $70,000s.
Source: CoinCentral