Bitcoin Rebounds After Rough Week, But Traders Are Pricing In More Downside
In briefBitcoin rebounded 1.38% to $82,837 on Friday after dipping to $80,427 on Thursday, while total crypto market cap rose 2% to $2.8 trillion and the Fear s ETF tracker. Bitcoin trades around $82,837 on Friday, up 1.38% on the day, after dipping to $80,427 on Thursday, its lowest level since early September. Bitcoin ETF flows. Image: Decrypt The daily candle opened at $81,711 and has ranged between $81,553 and $83,443. On the four-hour chart, price still trades below the 50-period exponential moving average, so the short-term trend has not turned. Myriad, a prediction market owned by Decrypts parent company Dastan, gives a 67% chance that Bitcoin trades at or below $80,000 at some point in October, with 40% odds for $77,500 and 24% for $75,000. Bitcoin price data. Image: Tradingview A separate weekly market put 49% odds on Bitcoin finishing the week above $87,500 so traders expect a month of price compression with some space for further downside. The Average Directional Index, or ADX, which measures trend strength regardless of direction, reads 37.9 on the daily chart, well above the 25 level that confirms a real trend. The directional lines show buyers (DI+) above sellers (DI-), so the trend is still bullish even after the pullback. The









