Bitcoin starts this week with a big question mark hanging over it. Last week, it touched above $81,000. Then it slipped back near $79,000. Right now, it’s floating around $79,830.
However, trading has gone quiet. Way too quiet. Volume dropped more than 40% today. That tells you fewer people are jumping in at these levels.
Even so, the bigger picture leans bullish. The BTC price climbed toward $82,000 as September rate-cut bets flipped to a coin toss, about 50/50 odds. Also, Bitcoin ETFs pulled in $731 million. That’s the biggest daily inflow since January.
And get this, Bitcoin and gold are moving together more than they have in six years. That connection keeps getting tighter, which ties BTC closer to big-money moves driven by the broader economy.
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News That Could Move Bitcoin This Week
This week, it all comes down to inflation. If the numbers run hot, the Bitcoin price could lose its footing. If they run cool, it might break upward.
Let’s walk through what’s coming. First up is producer prices, PPI. Core PPI is expected to tick up to 0.3% from 0.2% last month. Overall PPI is forecast at 0.4%, a jump from zero the month before.
Then we get unemployment claims, projected at 205,000, almost flat from 206,000.
If those producer prices come in hotter than expected, or if jobless claims drop more than folks think, the Fed won’t feel rushed to cut rates. That would put weight on Bitcoin.
But the real heavyweight is CPI, consumer prices, due out later. Core CPI is seen at 0.2% monthly and 2.4% yearly, down a notch from 2.5%. Headline CPI is forecast at 0.4% monthly and 3.4% yearly, same as last time.
If inflation undershoots these forecasts, you can bet markets will price in more rate cuts. That could give the Bitcoin price room to test $81,547 again.
We also get consumer sentiment numbers from the University of Michigan. The early read is 51.0, lower than the previous 51.7. Inflation expectations are pinned at 4.0%.
Here’s why that matters: if people feel worse about the economy and inflation looks tame at the same time, that combo tends to push rate-cut expectations higher. And lower rates mean more money floating around, which is good for BTC.
What Is the Bitcoin Chart Saying?
We had a look at the chart, and the first level that stands out is $81,547. The Bitcoin price poked into that area but couldn’t hold. So now, anything between roughly $81,500 and $82,000 is acting as a ceiling.
Break past that, and the next real test is $82,951. That one sits near the top edge of the larger range you can see on the daily chart.
Bitcoin’s floor is $78,587. Price is holding above it, but every time it tries to push past $81,000, sellers step in and push it back down.
If buyers can keep it above $78,587, the bigger picture stays positive. If that level breaks, the next stop lower is $76,159. Below that, $72,327.
The momentum is okay, but not great. The Ultimate Oscillator reads 57.80, that’s above the middle line, so buyers still have a slight edge.
The Stochastic is at 61.53, with its signal line just a hair higher at 62.08. That tells us the push higher has lost some steam, but it hasn’t flipped negative yet.
Put it all together: as long as $78,587 holds, Bitcoin still has room to bounce. The setup is there, buyers just need to show up.
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Where Will BTC Price Go This Week?
Bullish path:
If the $78,587 price holds and BTC reclaims $81,547, the next objective becomes $82,951. A break above that level would strengthen the case for a move toward the next major resistance zone.
Bearish path:
If Bitcoin (BTC) loses $78,587, the chart opens the door to $76,159 first. Failure there could expose $72,327, with $65,308 becoming the deeper downside target if selling pressure accelerates.
Likely path:
The BTC price may first retest $78,587 before choosing its direction. Holding that level keeps $81,547–$82,951 in play; losing it puts $76,159 and $72,327 on the map. With Bitcoin around $79,830, the $78,587 price is the level that matters most this week.
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