Bitcoin Climbs Back Above $83,000 as Greed Returns
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A week after the inflation shock, the bulls are back in charge: Bitcoin is trading at around $83,400 on Wednesday, its highest level in a week. Only last Thursday, the largest cryptocurrency briefly slipped below $80,000 after hot U.S. inflation data. Now it is getting a lift from strong E.T.F. inflows, solid quarterly earnings on Wall Street and a market mood that is tipping back toward greed.
Prices at a Glance
The following table shows the largest crypto assets by market capitalization (excluding stablecoins), according to CoinMarketCap.
| Crypto Asset | Price | 24 Hours | 7 Days |
|---|---|---|---|
| Bitcoin (BTC) | $83,427.60 | +2.33% | +0.81% |
| Ethereum (ETH) | $2,466.56 | +3.02% | −0.48% |
| BNB (BNB) | $745.49 | +1.98% | +1.00% |
| XRP (XRP) | $1.35 | +4.25% | −0.31% |
| Solana (SOL) | $106.80 | +2.20% | +1.10% |
| Tron (TRX) | $0.3311 | −0.01% | −0.53% |
| Zcash (ZEC) | $1,289.58 | +11.70% | +5.61% |
| Hyperliquid (HYPE) | $81.24 | +3.41% | +0.65% |
| Dogecoin (DOGE) | $0.08193 | +3.22% | −2.00% |
| Monero (XMR) | $595.66 | −1.98% | +7.94% |
| Chainlink (LINK) | $12.38 | +3.24% | −2.83% |
| UNUS SED LEO (LEO) | $9.03 | +0.09% | 0.00% |
| Cardano (ADA) | $0.2251 | +3.74% | −2.59% |
That gives Bitcoin a market capitalization of about $1.67 trillion. Almost the entire market is in the green, with Zcash the standout at nearly 12 percent. Its developers have scheduled the NU7 upgrade for November, which cuts block times from 75 to 25 seconds and confirms payments three times as fast. The only notable loser is Monero, which is nonetheless up almost 8 percent on the week.
Fear & Greed Index: Greed Over Fear
Alternative.me’s Crypto Fear & Greed Index stands at 63 on Wednesday, signaling “greed,” up from 55 the day before. Notably, even when Bitcoin dipped below $80,000, the index fell only to 53, which counts as neutral. In other words, there was no sign of panic even during the weak patch. The index combines factors such as volatility, trading volume, social media sentiment and Bitcoin dominance into a single score between 0 (extreme fear) and 100 (extreme greed).
E.T.F. Flows: BlackRock Buys, Ether Funds Bleed
The tide has turned for U.S. spot Bitcoin E.T.F.s this week. On Monday, the funds took in a net $526.7 million, according to data from Farside Investors, the largest single-day inflow since September. BlackRock’s IBIT alone attracted $665.2 million, while Fidelity’s FBTC lost $83.6 million. On Tuesday, inflows were much smaller at $23.2 million, again led by IBIT.
For October as a whole, however, Bitcoin E.T.F.s are still slightly in the red, after nearly $680 million flowed out in a single week at the start of the month. Ether is faring worse: Ethereum E.T.F.s saw outflows of $103.3 million on Monday, $95.4 million of which came from BlackRock’s ETHA. Globally, crypto funds lost a net $434 million the previous week, according to CoinShares.
What Is Moving the Broader Market
- Fed meeting: The Federal Reserve, led by its chair, Kevin Warsh, meets next week. After the rate hike in September, the benchmark rate stands at 3.75 to 4 percent. Prediction markets see only a small chance of another move in October but consider a hike in December likely.
- Inflation: U.S. consumer prices rose 3.7 percent in September, and producer prices jumped 6.3 percent. That pushed the market into the red last week and is keeping rate worries alive.
- Stock markets: Wall Street is recovering from the tech sell-off. The Dow Jones rose 1.2 percent on Tuesday on strong results from General Motors and 3M, and South Korea’s KOSPI climbed more than 3 percent on Wednesday. Tesla and Meta report quarterly earnings after the U.S. close on Wednesday.
- SpaceX and Tesla: SpaceX posted strong quarterly results and floated a merger with Tesla. Together, the two Musk companies would hold more than 30,000 Bitcoin on their balance sheets, worth about $2.5 billion.
- Oil and geopolitics: New attacks in the Strait of Hormuz and on Saudi energy facilities briefly pushed U.S. crude above $100 a barrel on Tuesday before prices fell back sharply. Expensive oil fuels inflation and, with it, the case for further Fed hikes.
- Corporate buying: Michael Saylor’s Strategy bought another 267 Bitcoin last week for about $22 million and now holds 848,517 BTC.
- Derivatives: According to CoinDesk, open interest in futures rose almost 4 percent in 24 hours to $145 billion, and positions worth $284 million were liquidated. In Bitcoin options on Deribit, however, investors are still paying more for protection against falling prices.
What Could Happen Next
On the charts, Bitcoin is wrestling with its 21-day moving average at around $83,200, which pushed the price back on Tuesday. The 50-day moving average at around $81,600 is seen as support. The trader Daan Crypto Trades sees daily closes above $83,000 as the first hurdle; if the breakout succeeds, $87,000 or more could be possible. The analyst Keith Alan of Material Indicators points out that buyers have repeatedly defended the 50-day average.
Long-term forecasts vary widely. Strategy’s founder, Michael Saylor, believes Bitcoin bottomed just below $60,000 and will climb back above $100,000. More cautious analysts expect a year-end range of $85,000 to $95,000, arguing that further Fed rate hikes could dampen demand for risky assets. Bitcoin remains a good third below its record high of about $126,000 from October 2025.
