Bitcoin dropped to an intraday low of $82,775 on Tuesday, reflecting renewed concerns over inflation and interest rates in the United States. The leading cryptocurrency traded around $83,022 after its latest decline, registering a 0.99% loss over the past 24 hours and marking a 3.33% slide in the last week.
Despite the downturn, Bitcoin remains up 5.80% over the past month, having previously surged to an eight-month high of $87,400. The $84,000 zone, which had served as a critical support level, now stands as an area buyers are seeking to reclaim.
US Economic Data Sends Mixed Signals
Recent US economic data offered a mixed outlook for markets. According to the Bureau of Labor Statistics, job openings held steady at 7.1 million in August, a slight decline from July’s revised 7.3 million. Hires settled at 5.2 million, with quits stable at 3.1 million and layoffs unmoved at 1.6 million, indicating muted demand for new labor.
On the consumer side, The Conference Board reported that its confidence index slipped to 81.9 in September from 88.6 in August. The share of Americans expecting higher interest rates over the coming year climbed to 68.4%. Average inflation expectations hit 6.1%, while the median figure stood at 5.1%.
The survey period, from September 1 to 23, spanned the Federal Reserve’s most recent rate increase to a range of 3.75% to 4.00%. Meanwhile, Treasury yields remained elevated with the benchmark 10-year at 5.24% and the two-year at 4.92% as of late September. Spot Bitcoin ETFs logged a net inflow of $31 million on September 28, the lowest daily sum in the past week, according to Farside Investors.
Profit-Taking Heightens, Market Eyes Key Support
Analytics firm CryptoQuant maintains that Bitcoin remains in a bull market, though recent signals suggest a potential for near-term correction. Julio Moreno, head of research at CryptoQuant, highlighted that Bitcoin’s close above its 365-day moving average endorses the bullish trend, with the firm’s Bull Score Index currently at 90 out of 100.
However, the report noted that several on-chain metrics are starting to reflect a slowdown. The unrealized profit margin for short-term traders reached 33%, the highest since December 2024. In addition, holders collectively realized profits on 25,700 BTC on September 22, marking the largest single-day profit of 2026 so far.
Demand on both spot and futures markets has cooled down. Apparent spot demand contracted by 170,000 BTC over the past 30 days, while futures demand slowed sharply from 164,000 BTC in mid-September to just 16,000 BTC by the end of the month.
CryptoQuant emphasized that “without fresh demand, rallies struggle to extend,” underscoring the risk of further consolidation unless capital influx resumes.
Additional selling activity has been observed among alternative coins. The seven-day sum of altcoin exchange inflow transactions surged to 76,000, the highest since October 2025.
According to Moreno, the 365-day moving average near $80,000 is the initial major support for Bitcoin. He pointed to further support levels around $71,000 and $67,000, viewing any drift toward these ranges as part of a healthy market consolidation, provided support structures remain intact.
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Key upcoming economic releases for US markets include the PCE inflation report on September 30 and the September jobs data scheduled for October 2.
