News Maker 23

Bitcoin attempted to maintain its recovery momentum during Tuesday's trading (Oct 13), though its movement remained limited following a correction from the US$87,402 level seen on September 21. Currently, Bitcoin is hovering around US$83,300, with slight downward movement over the past 24 hours. The US$82,000–US$82,800 range remains a critical support zone that must hold to prevent selling pressure from intensifying again.

The primary pressure on Bitcoin stems from US macroeconomic conditions. High US Treasury yields make non-yielding assets like Bitcoin less attractive compared to interest-bearing instruments. A strengthening US Dollar is also capping the upside potential for cryptocurrencies. However, should yields decline, the opportunity cost of holding Bitcoin could decrease, potentially paving the way for a crypto asset recovery.

Altcoin performance remains mixed. Ethereum is trading around US$2,510, BNB around US$743, XRP around US$1.37, Solana around US$107.60, Dogecoin around US$0.084, and Cardano around US$0.237. Most have faced pressure over the last 24 hours, with Solana and Cardano experiencing steeper declines than Bitcoin.

Fundamentally, the crypto market remains highly sensitive to interest rates, bond yields, the US Dollar, and global liquidity conditions. If investors perceive a renewed possibility of monetary policy easing, risk assets like cryptocurrency could see capital inflows. Conversely, if US inflation spikes again—driving expectations for tighter interest rate policies—pressure on Bitcoin and altcoins could intensify once more.

Newsmaker observes that Bitcoin has not yet shown signs of a truly robust recovery. The US$82,000–US$82,800 zone serves as a critical support level, while US$87,400 is the level that must be reclaimed to restore stronger bullish momentum. For now, the crypto market is awaiting a more favorable combination of yields, the US dollar, and Federal Reserve policy before the next rally truly gains steam.

Source: Newsmaker.id