Bitcoin : What's the next step?

On Monday, the Bitcoin touched $86,332, its highest level in eight months since January. As sentiment warmed up, market focus quickly shifted to whether it could continue with the next move. It is worth noting that according to CoinGlass statistics, over the past 24 hours the total amount of liquidation has reached $877.31 million, out of which about $740.79 million came from the emptied short position , showing a fairly strong momentum for this year's bull run.

Review: $80,000 recovered from US$62,000 in a month

candlestick chart opened the day at $81,152, closing 4.98 percent higher than last week. The rally began on August 17 near $62,000, and rebounded to $80,000 in just one month.

However, Bitcoin is still more than 30 percent below its all-time high of $126,000 set in October 2025, and the yearly decline has narrowed to less than 3 percent.

In terms of data, Bitcoin accounted for $491.48 billion and Ethereum contributed $195.11 million. More than 126,000 accounts were liquidated in 24 hours across the entire market with a single maximum of liquidation positions on Binance worth $11,299,000. This scenario has been repeatedly played out in recent times: continuous counter-trend betting by airlines forced them to leave the field each time they pulled up instead fueling their momentum.

Macroeconomic support: Oil prices fall and yields decline

Brent crude is down for the fourth day in a row, with markets expecting Washington and Tehran to ease tensions during this week's United Nations General Assembly, giving inflation-sensitive assets across the board respite.

At the same time, traders are preparing for Trump's meeting with Xi Jinping on September 24. The 10-year US bond yield has fallen to around 4.9% after touching its highest since October 2023 earlier this month. A fall in yield typically reduces the opportunity cost of holding interest-free assets such as Bitcoin and thus increases their relative attractiveness.

In an interview with CNBC, Bitwise chief investment officer Matt Hougan said that the cryptocurrency winter is over and the market may be heading for one of the strongest and most lasting in crypto history. However, there are also different voices: The Bitcoin stood at $ 85,000 in January before falling to $ 77,000; Standard Chartered Bank called a low point in June as "the springtime" for cryptocurrencies, which resulted in another downturn.

The next three weeks: key support and data intensive agenda

From a technical point of view, the relatively weak RSI which measures market overheating is already showing overshooting. Combined with the current volatility, multiple signals point to the same judgment: Bitcoin Short-term gains are too fast and need at least one correction or rebound after hitting $79071 to $80355 support zone. If the circumferential bearish falls below this area, the multihead structure will be disrupted;

Analysis has indicated that if Bitcoin breaks out of the current resistance zone, a subsequent or expected move to the next large area at $95,000 corresponds to about 15% upside room. On the forecast market Myriad, traders currently give USDT 1 a 50% probability of touching $90,000 by the end of the month and 28% chance of reaching $925,500.

More importantly, the macroeconomic data calendar for the next three weeks is packed: Trump meets with Xi in New York on September 24, the Fed releases key PCE inflation figures on September 30, a non-farm employment report for September 2 and CPI data on October 14. The short term trajectory of Bitcoin will largely depend on these external variables beyond its control.