BTC Holds Support at $80,000, Awaiting Breakout Above $87,000

ChainCatcher report: According to QCP Group’s market report, BTC has shown relative resilience one year after last October’s largest single-day liquidation event, maintaining range-bound price action despite concerns over the U.S. government’s transfer of large amounts of BTC and the Ledger hack. Although BTC has repeatedly failed to break above $87,000, the $80,000 support level remains solid. In the options market, implied volatility remains elevated, while put premiums have narrowed, indicating a market bias toward waiting for a breakout rather than adopting defensive positioning. If BTC successfully breaks above $87,000, the next target could be $94,000. Notably, a large long call butterfly position expiring on October 30 with strikes at $90,000/$95,000/$100,000 represents the current month’s largest concentration of open interest. This week, macroeconomic data will deliver key tests: U.S. CPI and PPI figures will be released, and Fed Chair Warsh is scheduled to speak at the IMF-World Bank annual meetings. The market currently prices in approximately a 17% probability of an October rate hike; these data releases and policy signals may serve as critical catalysts for BTC’s directional move.