Bitcoin reclaimed $84,000 after breaking above its May high of $82,800, challenging Benjamin Cowen’s expectation of a deeper bear-market decline even as traders prepare for renewed volatility around Federal Reserve policy. Cowen said holding above $83,000 would make a deterministically bearish view difficult, although he still allowed for fourth-quarter weakness and now considers a higher low more likely than an automatic retest of a cycle low. Bitcoin has rallied nearly 50% from lows below $58,000, while smaller coins have outperformed. Traders are watching August core PCE, second-quarter GDP and September employment data before the Fed’s October 27-28 meeting, with $80,000 viewed as support and $90,000 as the next potential target. Strategy has resumed buying bitcoin, adding corporate treasury demand to the market’s key variables. U.S. spot Bitcoin ETFs recorded $64.8 million of inflows on Monday after $330.8 million on Friday.