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Published: 8 October 2026,10:05
Daily Market Analysis New
*Bitcoin fell over 2.6% toward the low-$83,000s, while Ethereum dropped more than 4.5% and slipped below $2,500.
*The FOMC minutes pointed to another potential rate increase by year-end, lifting policy uncertainty and reinforcing pressure from elevated Treasury yields.
*Further hawkish signals could extend the correction, while softer inflation data or stabilising institutional flows may support a technical rebound.
Bitcoin and Ethereum experienced a pronounced sell-off in the latest session, with Bitcoin declining by more than 2.6 percent and Ethereum falling by over 4.5 percent. The move coincided with the release of the Federal Open Market Committee’s September meeting minutes, which triggered a broad risk-off reaction across digital assets. Bitcoin briefly traded down toward the low $83,000 area before a modest recovery, while Ethereum underperformed and extended losses beyond the $2,500 level.
The primary catalyst was the hawkish tone of the minutes. Policymakers indicated that most participants viewed another increase in the federal funds rate as likely appropriate by year-end, citing ongoing inflation risks that remained tilted to the upside. Although the minutes predated last week’s softer Nonfarm Payrolls data, which had reduced the probability of an October hike, the confirmation of a higher terminal rate path for 2026 prompted traders to reassess the medium-term monetary policy outlook. Elevated Treasury yields and the higher opportunity cost of holding non-yielding assets amplified the pressure. Leveraged long positions faced liquidations, accelerating the downside, particularly in more volatile assets such as Ethereum and other altcoins.
Looking ahead, the crypto market is expected to remain sensitive to macroeconomic signals. With odds of an October rate hike still low but a December move remaining in focus, upcoming data releases—including inflation readings—will be critical in shaping expectations. A further rise in yields or additional hawkish commentary could extend the current corrective phase and test lower support levels. Conversely, softer economic data or stabilisation in institutional flows may allow for a rebound. Near-term price action is likely to stay range-bound and volatile as markets digest the policy implications and await clearer guidance on the Federal Reserve’s path.
BTC, H4:
Bitcoin has retreated sharply from its recent peak near $87,000, with the area once again proving to be a significant source of selling pressure. The cryptocurrency fell more than 4% in the latest session as buyers failed to sustain a breakout above the key resistance zone.
BTC is now holding just above critical support at $83,115. This level may attract renewed buying interest and provide the foundation for a short-term technical rebound, particularly after the magnitude of the recent decline. A firm defence of the support would help stabilize the near-term price structure and could allow Bitcoin to recover toward its previous highs.
Conversely, a decisive break and sustained close below $83,115 would confirm a further deterioration in momentum and could trigger another wave of selling. Under this scenario, attention would shift toward the key psychological support at $80,000, with leveraged liquidations potentially amplifying the decline.
Resistance Levels:86,560.00, 90,070.00
Support Levels:79,190.00, 75,650.00
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