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08.10.202613:20 Forex Analysis & Reviews: Bitcoin selling pressure persists

Bitcoin has slipped below $83,000 and is currently trading around $82,300, roughly 1.5% lower than 24 hours ago. Market conditions remain unfavorable for risk assets: US yields, oil, and the dollar are all rising.

Exchange Rates 08.10.2026 analysis

All three pressure points are linked. Oil jumped by more than 4% in a day, with WTI rising to $92.40 per barrel and Brent climbing to $105. Expensive energy revives inflation fears, and the minutes from the September Fed meeting already showed most participants view another rate hike by year-end as likely. As a result, the 10-year US Treasury yield climbed to 5.352%, while 30-year yields are renewing highs above 5.73%. That combination benefits dollar holders and high-yield bond investors and hurts non-yielding assets like Bitcoin and Ether.

Bitcoin also faces the technical problem that sellers and profit-takers are increasing disproportionately to demand at these levels, and any breach of a round number — whether $84,000 or $83,000 — automatically feeds extra panic into the market.

My base case: pressure should persist in the coming days, and while the price remains below $83,500, I expect a test of the $82,000 area. Holding that support would leave room for a rebound. A break and consolidation below it would open the way to $80,500. A true reversal signal won't come from crypto news but from a halt in the rise of yields and oil.

Exchange Rates 08.10.2026 analysis

Bitcoin technicals

Buyers are currently targeting a return to $82,900, which would open a direct path to $84,100 and then toward $86,000. A break above $86,000 would signal attempts to restore the bull market. On the downside, I expect buyers to step in near $81,300. A decisive move below that area could quickly push BTC down to around $79,400. A further target on an extended drawdown would be the $78,100 area.

Exchange Rates 08.10.2026 analysis

Ethereum technicals

A clear consolidation above $2,564 would open a straight path to $2,615. The further upside target is the $2,679 high. Overcoming that would confirm strengthening bullish sentiment and return buyers' interest. On the downside, I expect buyers near $2,502. A break and consolidation below that level could rapidly drive ETH toward $2,448. A deeper target in an extended sell-off would be around $2,385.

What's on the chart:

  • Red levels mark support and resistance zones where the price is expected to either slow or accelerate.
  • Green line: 50-day moving average.
  • Blue line: 100-day moving average.
  • Light-green line: 200-day moving average.

Crosses of — or tests by the price of — these moving averages typically either halt moves or set the next market impulse.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Jakub Novak,
Analytical expert of InstaSpot
© 2007-2026
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