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Bitcoin is now approaching its 50D MA support level.

Hold above it, and BTC could rally towards $87K.

Lose this and BTC could drop to $76K.

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Key reasons for Market Dump

1. US CPI hits a 4-month high, while the Core CPI hits a 3-month high.

2. October rate hike odds jumped to 51.3%.

3. DXY spiked to its highest level in 18 months.

3. US 5Y bond yield hits a 19-year high.

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JUST IN: Tom Lee predicts Ethereum $ETH will surpass $5,000 by the end of this year.

🔰🔰Trend reversal on the cards?

Bitcoin’s price action is starting to mirror the early bull run phase of 2023.

The same pattern may be playing out again.

🔰 BTC Update: A breakdown below $82,400 could signal bearish momentum, as this level represents a critical support zone. Sustained trading below this level may increase downside pressure.

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🚨 Ripple emerging as major competitor to Wall Street banks, WSJ reports