Bitcoin has slipped toward USD 84,000 after failing to hold above USD 87,000, leaving nearby chart support under pressure. According to CoinGecko, BTC traded near USD 84,575 on Oct. 3, down 1.7% over 24 hours. The retreat followed Friday’s brief rally after weaker U.S. jobs data pushed Treasury yields lower.
TradingView’s Binance daily chart showed Bitcoin reaching USD 87,220 before retreating toward the USD 84,012 Fibonacci level. The level represents the 61.8% retracement of the range between USD 126,294 and USD 57,877.
Bitcoin remained above its earlier September trading range after recovering from roughly USD 75,000. Repeated attempts to move beyond USD 86,000–USD 87,000 stalled near recent highs, keeping the latest advance below resistance.
The daily relative strength index stood at 60.69, below its moving average of 64.92. The reading remained above 50, while its position below the average reflected weaker upward momentum.
On the four-hour chart, the Bollinger Bands placed the middle line at USD 84,227, the upper band at USD 86,092 and the lower band at USD 82,362. The lower band overlapped the broader USD 82,000–USD 83,000 support area.
Meanwhile, the Awesome Oscillator remained positive at 1,557.71. Its latest red bar showed slowing positive momentum after several rising green bars.
Bitcoin reached USD 87,229 on Bitstamp on Friday after September U.S. nonfarm payrolls came in at 29,000. Economists had expected 84,000 jobs. Officials also revised August’s increase from 162,000 to 133,000.
Treasury yields fell for a second day. The 10-year yield traded near 5.2%, while the 30-year yield reached 5.573%. U.S. stocks advanced, with the S&P 500 gaining 1% and the Nasdaq Composite rising 1.8%.
Before the release, QCP Capital wrote, “For Bitcoin, a Treasury relief rally would provide the cleanest upside catalyst.” The firm linked the scenario to softer wage growth easing pressure on longer-term bond yields.
Bitcoin later surrendered part of its advance as sell orders above the market limited the move. The price subsequently returned below USD 86,000.
CoinGlass’s liquidation heatmap showed a prominent cluster around USD 83,500 below the latest price. Above it, concentrations appeared near USD 85,100 and USD 86,000–USD 86,400, with another large cluster around USD 87,700.
Further clusters sat near USD 82,600– USD 82,800 and USD 82,000. These levels overlapped chart support, although the heatmap alone cannot determine Bitcoin’s next move.
Analysts cited heavy buy orders between USD 80,000 and USD 82,000, alongside sell orders extending toward USD 90,000. The analyst’s recovery scenario depended on lower bids holding and buyers clearing overhead sell orders.
Altcoin Sherpa said buying could return near support but warned, “If we lose 82k or something then I think it starts to get really nasty.”
U.S. spot Bitcoin ETFs recorded provisional net inflows of USD 82.9 million during Sep. 28–Oct. 2, according to Farside Investors, compared with approximately USD 2.39 billion in the preceding week. Friday’s total remained incomplete because BlackRock’s IBIT entry was still pending.
Funds attracted money on four sessions, but Wednesday’s USD 148.7 million withdrawal reduced the weekly intake. Thursday brought USD 102.7 million in inflows, followed by a provisional USD 31.7 million on Friday.
IBIT received USD 292 million through Thursday. Meanwhile, Fidelity’s FBTC recorded USD 167.9 million in weekly withdrawals, Bitwise’s BITB lost USD 38.6 million, and Grayscale’s GBTC posted USD 54.6 million in net outflows.
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