QCP: Bitcoin holds $80K support, needs break above $87K to open upside
- —Support below $80,000 described as solid; attempts to hold above $87,000 failed
- —A break above $87,000 opens a path to $94,000; a large 90k/95k/100k call butterfly expires Oct 30
- —Market prices roughly 17% odds of a rate hike in October
- —Key events: US CPI Oct 14, PPI Oct 15, Fed Chair Warsh speech Oct 16
Why it matters: The $80,000–87,000 range will set bitcoin's next direction, with inflation data and Fed signals as potential triggers for a breakout.
Source: PANews