Chinese fraud victims seeking to recover 61,000 seized Bitcoin face a legal setback after a UK court ruled that Chinese law governs their claims.
Strategy bought 250 Bitcoin in the week ended October 11 and spent almost nine times as much repurchasing its STRC preferred shares. The purchases show the company's Bitcoin treasury and its financing structure making competing claims on capital.
Bitcoin Cash traded below most major moving averages, while futures open interest reached $89.37 million and funding remained near zero.
Bitcoin is approaching a bullish moving-average crossover on its three-day chart, drawing attention to a pattern that preceded substantial gains in three historical examples. The setup comes as analysts assess whether easing macroeconomic pressures and improving onchain indicators could help Bitcoin establish an October bottom. Bitcoin briefly dropped below $82,000 on Monday but has now slightly recovered and is trading at $84,011. Confirmation of the crossover would strengthen the technical recovery case, although it would not establish a reliable price target or timetable. Macroeconomic pressure shows signs of easing Bitcoin's October correction may be approaching exhaustion after elevated Treasury yields, expensive oil, weaker ETF demand and profit-taking pressured the market.
Bitcoin recovered its decline after a short-term drop, but 153 of 169 tracked tokens remained below their pre-drop prices on Oct. 13.
The group's average cost basis is $48,600, and it has remained profitable since January 2023.
Bitcoin was trading at $84,002 15 minutes earlier and remained up 0.25% from one hour before the move.
The move marks a second test of the $84,000 level in October after Bitcoin revisited it on Oct. 1.
The index fell to -0.1398% on Oct. 13, showing continued weakness in U.S. market buying pressure.
Bitcoin remained above its seven-day, 50-day and 200-day SMAs but below its 20-day average as derivatives activity increased.
Bitcoin fell below 82000 dollars on October 12th, triggering a cascade of liquidations across the crypto market. Contrary to what the headline figure might suggest, the 406 million dollars do not only concern BTC, but all long positions recorded over 24 hours.
The 4,582 BTC transfer was split across five addresses, but no sale or exchange deposit has been confirmed.