Countdown to $98K or $77K: The Next Bitcoin Showdown!
Certainly! Here’s a rewritten version of the article that maintains the original meaning while altering the wording and structure:
Brief Overview
Bitcoin is currently trading about $300 above the $82,700 mark that could lead to a drop to $77,000, while a 5% increase would be required to reach $98,000.
On-chain analytics from Bitfinex Alpha indicate that $64 billion worth of Bitcoin is concentrated between $84,000 and $84,500, forming a barrier that buyers need to overcome for further price appreciation.
Daily inflows into Bitcoin ETFs have plummeted from $342 million to just $35 million as the 10-year Treasury yield reached 5.27%, diminishing institutional buying interest.
Crafting a solid portfolio and knowing how to withdraw from it are often taught as distinct skills. Few resources, however, focus on the latter. The Definitive Guide to Retirement Income addresses this gap and is available for free today. Read more here. (Sponsor)
Bitcoin (CRYPTO: BTC) is trading around $300 above a pivotal level, according to Jesse Marre from the Hilbert Group as of October 8, 2026. This threshold may trigger a decline to $77,000, while another potential increase to $98,000 sits approximately $4,400 higher. Present conditions suggest that a downtrend toward $77,000 seems more plausible at the moment.
Currently valued at $82,969, Bitcoin has dropped by 1.5% in the past 24 hours and 1.3% over the last week, reflecting a notable decline of 34.2% from its peak of $126,080. Which price point will Bitcoin hit first, $98,000 or $77,000?
MikalaiLipski / Shutterstock.com
Jesse Marre from Hilbert Group Sets Bitcoin Range Between $82,700 and $87,400
rzoze19 / Shutterstock.com
Bitcoin has been trading within a defined range, oscillating between established high and low prices. Buyers typically enter the market at the lower end of this range, while sellers tend to exit at the upper end.
Identifying this range, Jesse Marre, a senior portfolio manager at the Hilbert Group, commented, “Bitcoin is trading in a range, with the peak at $87,400 being critical. If it breaks above this point, we could see a move towards $94,000 to $98,000. However, descending past $82,700 could take us to $77,000.”
——
Introducing: The Definitive Guide to Retirement Income
Many seasoned investors eventually reach a crucial moment where their focus shifts. After years of saving and building a portfolio, the concern transitions from asset growth to sustainable withdrawals. Mismanaging this can jeopardize years of prudent investment.
This is where The Definitive Guide to Retirement Income provides valuable insights. This free resource from Fisher Investments examines actual retirement costs, viable income sources, and the withdrawal strategies needed to ensure longevity of funds. Access it for free today. Read More Here ›
——
Traders closely monitor price thresholds since numerous orders congregate around these levels. For instance, many investors implement stop-loss orders, which are set to automatically sell if prices drop below specific support levels, to mitigate losses. Conversely, buyers seeking to capitalize on upward momentum often place orders above these resistance points. A breach of such levels tends to activate these orders, further impacting market behavior.
Additionally, leveraged trading activities can worsen market trends as exchanges may close borrowed positions if losses extend beyond collateral. For instance, on October 7, exchanges liquidated $511 million in Bitcoin positions, with $418 million originating from long positions, only profitable if the price rises.
Bitfinex Alpha’s On-Chain Insights Align with Key Bitcoin Levels
Arsenii Palivoda / Shutterstock.com
The analysts at Bitfinex Alpha have reached similar conclusions to Marre’s observations through their own on-chain data assessments. Their report, dated October 7, estimates Bitcoin’s opening price for the year at $87,722, which is slightly above its current trading level and aligns closely with Marre’s upper target.
Their findings reveal that nearly 769,000 BTC, valued at approximately $64 billion, was acquired between $84,000 and $84,500. This price range captured the highest volume of transactions recorded at any price. Currently, Bitcoin is just under this price level. This may prompt those investors to consider selling if the price rebounds to break even.
On the lower end, Bitfinex Alpha’s estimate of the True Market Mean, which is the average price that active holders have paid, is around $77,400. This closely corresponds with Marre’s $77,000 figure, suggesting a consensus among both analysis teams.
Marre observes some indicators suggesting upward momentum may materialize, stating, “Options traders seem to be leaning toward a breakout, and ETF investors continue to add their stakes, contributing $240 million last week after $2.4 billion the prior week.” This previous total encompasses all cryptocurrency ETFs, while spot Bitcoin funds like the iShares Bitcoin Trust ETF (NASDAQ: IBIT) represented about $241 million during the week ending October 2.
However, daily acquisitions by fund investors have shown a downturn. U.S. spot Bitcoin funds experienced outflows of $90 million on October 5, followed by an inflow of $119 million on October 6, as reported by SoSoValue’s ETF tracker. Bitfinex Alpha’s evaluation indicates that the average daily inflow over five days has decreased to merely $35 million, a significant drop from $342 million in mid-September.
Rising bond yields are also exerting downward pressure on Bitcoin prices. The 10-year Treasury yield climbed to 5.27% on October 6 following the Federal Reserve’s interest rate increase on September 16. This indicates that investors can secure annual returns exceeding 5% with U.S. government debt. Marre suggests that Bitcoin may serve as a safer alternative given the worries surrounding government borrowing, but actual buyer behavior has yet to reflect this sentiment.
Bitcoin Price Forecast: Will It Reach $98,000 or Fall to $77,000 First?
Currently, it appears Bitcoin is more poised to touch $77,000 before hitting $98,000. Trading just $300 above Marre’s downside trigger, after two straight days of declines and diminished ETF buying activity, a drop seems the more probable outcome. If Bitcoin closes below $82,700, it could trigger stop-loss orders and initiate a significant decline towards the $77,000 to $77,400 support range identified by both analytical reports.
Conversely, reaching the $98,000 target is a more intricate challenge for buyers. They first need to stay above $82,700, then recover over the $84,000 cluster, and finally secure a close above $87,400 and the yearly opening price of $87,722—a 5.3% ascent from the current value. A close above $87,400, without dropping beneath $82,700, could alter the trend, setting sights on an 18% increase to $98,000.
Now Available: The Definitive Guide to Retirement Income
(Sponsor) Most individuals dedicate their entire careers to accumulating wealth. Upon retirement, they often realize that what they truly need is nearly the opposite skill: converting that wealth into a consistent income stream, year after year, without depleting it.
This shift from asset growth to income generation may be one of the least discussed yet most significant transitions in financial wellness. Many otherwise diligent investors enter this phase without a solid plan. This is why The Definitive Guide to Retirement Income is essential. This free guide outlines actual retirement expenses, potential income sources, and how to safely withdraw funds yearly. For more information, click here. Learn More Here ›
