Nadeau Sees Bitcoin Chopping Between $80,000 and $95,000

Crypto analyst Michael Nadeau sees Bitcoin potentially moving between $80,000 and $95,000 during a choppy stretch, while retaining 90% confidence that the market is in an early bull phase. He shared the outlook Wednesday, Oct. 14.

Nadeau put Bitcoin’s 50-week moving average near $77,200 at the time of the discussion and treated it as a structural reference. He said a drop below $75,000 could weaken the bullish market structure. If Bitcoin moves above $90,000, he said, attention could return to reclaiming $100,000.

Those thresholds describe separate scenarios: the $80,000-to-$95,000 band is a possible range for choppy trading, while $75,000 and $90,000 are levels tied to downside risk and a possible move toward $100,000. Nadeau did not give a specific duration for the range.

The discussion looked back to 2023, when Bitcoin traded sideways for about seven months and experienced two corrections of roughly 17%, each lasting about two months. The period was presented as a comparison for the current market, not a prediction that the pattern will repeat. The discussion also noted that easing inflation helped reduce uncertainty in 2023 before the market strengthened.

Nadeau cited inflation and geopolitical uncertainty as risks and said he could not predict when those concerns would ease. U.S. consumer prices rose 3.7% over the 12 months through September, compared with 3.4% through August. Core CPI rose 2.6% over the year. The September figures were released Wednesday, Oct. 14, at 8:30 a.m. ET (12:30 p.m. UTC).

The outlook adds to earlier Bitcoin forecasts around $80,000 and $92,000, which outlined different near-term scenarios.