Bitcoin Tests $85,000 Zone Ahead of Key U.S. Economic Data Releases

Bitcoin is currently testing the $84,000-$85,000 long-term-holder supply cluster as three key U.S. economic releases approach.

The data releases are scheduled for September 30, October 1, and October 2, respectively.

The Bureau of Economic Analysis' August personal income and outlays report will be released on September 30 at 8:30 a.m. ET (12:30 p.m. UTC), which includes the personal-consumption-expenditures price index that measures price changes for goods and services purchased by U.S. consumers.

August energy markets provide context for this report, with Brent crude averaging $91 per barrel in August, $7 higher than in July.

The Institute for Supply Management will release its September Manufacturing PMI on October 1 at 10 a.m. ET (2 p.m. UTC), which may provide a more recent indication of factory-cost pressures.