Bitcoin Falls Nearly 2% as $82,800 Breakout Faces Support Test

Bitcoin (BTC) fell nearly 2% to about $82,480 on Monday, Oct. 12, as traders assessed whether the cryptocurrency could hold $82,800 as support after its recent breakout.

Bitcoin’s market capitalization declined by more than $25 billion over 24 hours to roughly $1.65 trillion. Its 24-hour trading volume rose more than 99% to $22.8 billion, while BTC remained up 6.59% over the previous 30 days.

Technical analyst Aksel Kibar identified $82,800 as a key support level for the breakout. He described the move above that level as hesitant and lacking momentum, raising the possibility of a decline toward $60,000 if the breakout fails.

The $60,000 level is a downside area in Kibar’s analysis rather than a confirmed forecast. A sustained move above $82,800 would weaken that downside scenario, while a failure to hold the level could bring lower areas of Bitcoin’s prior trading range back into focus.

Higher U.S. government bond yields, a stronger dollar and upcoming U.S. inflation data could influence expectations for the Federal Reserve’s next policy decision.

The immediate focus remains whether Bitcoin can maintain support near the breakout level.