Will the price of Bitcoin be above $78,000 on October 21?

Analysis

Bitcoin was changing hands around $81,000 on Sunday, October 18, with Binance showing a 24-hour range of $80,700.9 to $82,183.2. That leaves a cushion of roughly $3,000 over the $78,000 line that matters for noon ET on Wednesday, October 21. The week was rough but the floor held. Reports indicate that after September CPI came in slightly higher than expected, BTC slid to $82,000, then $80,200, and hit a monthly low of $79,800 before recovering to near $83,000 on Friday. Even at that low, price stayed above $78,000. The weekend added a smaller scare. Reports describe a flash dip of about $1,000 toward $81,000 that rebounded by roughly $1,200. Price now sits close to its 50-day moving average near $81,396. The mood is not cheery. Reports point to ETF outflows and geopolitical tension, and one Binance read says the path of least resistance remains lower, with a break under $80,000 opening a slide toward $78,000. Another Binance note lists $79,500 and $77,800 as the next levels to watch. There is a calmer reading too. One report notes the VIX jumped on Friday as stocks fell, while Bitcoin traded choppy and stayed above $80,000. It suggests the panic could ease on Monday. The thing to watch is $80,000. A clean break below it, with heavy selling, would put $78,000 in play.