Bitcoin tests $83K support as short‑term momentum wanes

Bitcoin slipped to roughly $83,450 on September 25, retreating from a brief surge above $87,000 earlier in the week. The move occurred amid a quarterly options expiry and rising U.S. Treasury yields.

Price action and technical signals

The daily chart showed a 1.1% decline, with price hovering near $83,476. The 4‑hour MACD turned negative, indicating weakening short‑term momentum after the earlier rally from below $76,000. The 4‑hour candle opened at $84,583, fell to $83,183 and closed near $83,454. The MACD line (251.25) sat below its signal line (551.84) and the histogram registered –300.59.

Technical indicators remain mixed: the relative strength index stayed above the neutral 50 level at 62.03, and price stayed above the 20‑day Bollinger Band midpoint ($79,951) despite retreating from the upper band near $86,724. The Awesome Oscillator stayed positive but narrowed toward zero.

Key support and resistance zones

• Local range support identified around $83,000 – $83,500.
• Loss of $83,000 could expose $81,000 as a downside target.
• Regaining $85,200 – $85,500 would reopen a path toward the recent $87,000 highs.

CoinGlass’s three‑day liquidation heatmap highlighted liquidity clusters near $83,300, $82,500, $85,200–$85,500 and $87,300, indicating where leveraged positions may face liquidation.

Macro factors influencing the market

Analyst Dan Khus (LVRG Research) noted that Bitcoin and Ether were holding support as the sell‑off in U.S. Treasury yields eased slightly, with the 10‑year yield near 5.19% after a 30‑basis‑point rise. He highlighted three factors to watch:

1. Whether yields remain elevated.
2. Odds of an October Federal Reserve rate hike staying above 70%.
3. Spot Bitcoin ETF flows absorbing the options expiry.

Oil price movements and developments in the U.S.–Iran conflict were also mentioned as potential inflation drivers that could affect yield expectations.

Outlook

The next move is likely to be decided by the $83,000–$83,500 support band and the $85,200–$85,500 resistance area. A break below $83,000 would bring lower liquidity zones and the $81,000 level into focus, while a sustained rise above $85,000 could set the stage for another test of the $87,000 peak.