The Bitcoin price rose as far as $84,280 early on Monday before sinking back to $83,700. Is this just a pause in the general upward trend for the $BTC price, or is a correctional leg starting that could take Bitcoin back to the firm support at $83K and possibly lower?
Bitcoin moved above its 50-week average and 365-day MVRV average, while its 2026 decline remains shallower than earlier cycle drawdowns.
Despite the recent correction of bitcoin, several technical and on-chain indicators signal a possible return of the bull market. BloFin Research even estimates that BTC has entered a new cycle, but this hypothesis still depends on maintaining several key supports.
Leverage-induced volatility highlights the risks in Bitcoin trading, emphasizing the need for cautious positioning and monitoring market signals. Bitcoin slips below $83,000, wiping out nearly $42 million in longs before the US open.
Bitcoin was at $83,178 15 minutes earlier and was down 0.73% over the previous hour.
Strategy repurchases $192.4M in STRC shares and buys 250 BTC for $21.5M, lifting Bitcoin holdings to 848,250 BTC with $5.5B in dollar assets.
All recorded liquidations involved long positions as Bitcoin fell from $83,364 to $82,755, a 0.73% decline.
The payment is scheduled for Oct. 16, with Oct. 13 set as both the record and ex-dividend date.
The purchase lifts Strategy's holdings to 848,250 BTC and follows a $176 million repurchase of STRC preferred stock the week before.
Bitcoin was priced at 82,981.7 USDT at 8:35 a.m. ET (12:35 UTC) Monday.
Bitcoin traded at 82,991.19 USDT after moving below the 83,000 USDT threshold Monday.
Strategy's total holdings account for around 4% of the 21 million bitcoin supply cap — worth roughly $71 billion.