Bitcoin below $80,000 for two hours before rebound

Bitcoin below $80,000 lasted roughly two hours on Thursday before dip buyers pulled the largest cryptocurrency back toward $82,500, CoinDesk data showed. The slide followed a September producer price report that beat forecasts by a full percentage point, and it briefly cut through a floor near $80,400 that had held twice in the past week. By Friday's Asian session bitcoin was up about 1.3% near $82,000, with traders turning to a speech by Federal Reserve Chair Kevin Warsh.

What happened

Bitcoin fell as much as 1.8% on the day to its lowest level since Sept. 18 after the Bureau of Labor Statistics release, before recovering toward $81,000 later in the U.S. session, Cointelegraph reported, citing TradingView data. CoinDesk put Thursday's trough at about $79,800 and said buyers returned in the same zone they had defended earlier in the week. The bounce then held above $81,000 through Asian trading.

The trigger was wholesale inflation. Producer prices for final demand rose 6.3% over the 12 months to September against expectations of 5.3%, while core PPI hit 5% versus a 4.4% forecast, Cointelegraph said. It was the second inflation surprise in two days after consumer prices also overshot, and it landed while South Korea's Kospi was falling 7.5% in a chip-led rout.

Risk appetite recovered overnight. MSCI's Asia Pacific equities gauge rose 1.3%, Samsung Electronics and SK Hynix each gained more than 2%, and the Kospi jumped nearly 3% after closing at its lowest level since April. Among the large tokens, ZEC led with an 8% rise to about $1,190, while SOL, ether, XRP and TRX each added about 1%.

Why it matters

The episode tested how much demand still sits under bitcoin below $80,000, and the answer for now is enough to absorb a macro shock. Buyers stepped in quickly at a level they had already defended twice, but the rebound stalled short of $84,000, where Wednesday's post-CPI spike ran out of steam. CoinDesk said a push back above that mark would show the bounce has real buyers behind it.

Chart watchers are looking lower for the next line of support. Cointelegraph noted the 21-week exponential moving average near $76,144 and quoted trader Rekt Capital saying volatile retests of the weekly averages have historically happened in early-stage bull markets. Analyst Aksel Kibar flagged $75,000 as the level that would negate his rectangle-bottom reversal pattern.

Bond markets add a second layer. The 10-year Treasury yield rose a basis point to 5.07% on Friday as investors handed back part of Thursday's rush into safety, CoinDesk said. Yields at that level keep pressure on assets that pay no income, even when inflation data is pushing traders toward scarce-asset narratives.

What's next

Warsh speaks at the IMF and World Bank meetings in Bangkok on Friday, two days after the September consumer price report, and any signal on the Fed's October decision will feed straight into crypto pricing. The reaction will also be read against Thursday's slide below $81,000 and this week's ether-led liquidation flush, which cleared out a layer of leveraged longs.

Prediction markets frame the tails. Polymarket's October ladder asks whether bitcoin will dip to $75,000 before the month ends, settling on any one-minute low on Binance's BTC/USDT pair, and traders price that outcome as unlikely. Another spell of Bitcoin below $80,000 would put that strike back in focus. A daily close back above $84,000 would shift attention to the upside strikes instead.

The call

Polymarket prices "Will Bitcoin dip to $75,000 in October?" with No near 78.5% as of this batch's odds fetch, resolving on any Binance BTC/USDT one-minute low. We call No: bitcoin will NOT trade at or below $75,000 on Binance in October 2026. Buyers defended the $80,000 area within hours, and a fresh break would still leave a sizable cushion above the strike with about two weeks of trading left. This is a dated record call, not investment advice.