Bitcoin Tumbles Below $83,500 Amid US-Iran Conflict Uncertainty

Bitcoin's price slipped below $83,500 after briefly rising above $85,000. The cryptocurrency fell 1.22% to $83,428 in early trading on September 28.

The decline came amidst uncertainty surrounding the US-Iran conflict and profit-taking following Bitcoin's recent run above $87,000. Additionally, cooling ETF inflows weighed on momentum, according to market analysts.

Despite the pullback, investors seem reluctant to aggressively unwind positions, suggesting that the broader recovery remains intact.

Analysts estimate that with key economic indicators such as PMI, US employment and export data remaining unchanged over the weekend, traders are now focusing on upcoming releases of Core PCE and labour data.