Dip Bought: Bitcoin Rallies 10% From $80K Low

Saturday saw Bitcoin drop back to $80K for the first time since early April when Trump’s Liberation Day was hitting markets. Just two days later, Bitcoin has bounced back strongly, yet quietly, rising 10% from that weekend low.

The bounce was fuelled by smart money and dip buyers. This was not a short squeeze or a liquidation-driven rally. It was a clean spot move led by those taking advantage of the current market structure. Sellers are exhausted, which has left the door slightly open for bulls to reclaim some momentum.

That said, there is no debate over who is still in control. Despite the 10% bounce, bears remain firmly in charge. After Bitcoin briefly recovered to $88K, it was quickly sent back to $86K just two hours later. A sharp reminder from the bears of who still holds the upper hand.

This week is likely to be volatile. Bears have paused, bulls have begun to capitalise with a 10% move in two days. Beyond price swings, some key macro events are on the calendar. PPI inflation data is due, its first release since September before the government shutdown, along with fresh unemployment figures. Be ready for volatility and the opportunities that tend to follow.

Stormrake Spotlight: Pax Gold (PAXG) ($4,059)

A new entry in the Stormrake Spotlight and one of our latest supported coins, Pax Gold. For those unfamiliar, Pax Gold tracks the price of physical gold in tokenised form. It offers exposure to gold’s price along with the benefits of a risk-off asset, combined with the advantages of blockchain infrastructure, including the ability to trade 24 hours a day, 365 days a year.

BTC/USD Key Levels and Price Action:

The bulls have regained short-term momentum after selling pressure from bears faded. A clean 10% rally from $80K to $88K is an encouraging sign, but the key resistance zone remains between $88K and $89K. This area will likely act as a significant test for buyers. On the downside, $86K now acts as strong support, reinforced by both the 21EMA and 55EMA.

BTC Total ETF Flows for 23 Oct: (data not available at the time of writing)

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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