Bitcoin Faces Crucial Weekend Test at $82,000

Bitcoin reached an intraday high of $81,400 on Friday and is now facing a major test at $82,000 this weekend. Despite absorbing two setbacks - the Senate's failure to advance the CLARITY Act and the Federal Reserve's rate hike - Bitcoin rebounded.

The week's inflation backdrop remains unresolved with Treasury yields near 5% and oil prices above $100. US spot Bitcoin ETFs took in $433 million on September 18, following inflows of $159.5 million on September 17 and outflows of $746.3 million over the preceding two sessions.

Clearing the resistance zone at $82,000 to $82,200 would open a path toward $84,000 to $85,000, with $86,000 cited as the next meaningful target beyond that. A break below $82,000 sends Bitcoin back toward $80,000, and ultimately toward $74,000 to $75,000.