Bitcoin retreated about 4.5% from its recent high of $87,374 to trade near $83,428, but its move above the May peak and continued position above the 50-week moving average have challenged analyst Benjamin Cowen’s earlier bearish macroeconomic expectations. The $82,800-$83,200 area remains a key short-term support zone, with $82,500 identified as strong support, while a weekly close below $83,000 could trigger a fourth-quarter correction scenario. Cowen said rising bond yields and a stronger dollar still support his broader thesis, but Bitcoin’s resilience has shifted his outlook toward a bullish case; he continues to allow for a higher-low correction rather than a new low.