Bitcoin holds $83,000 support as consolidation follows eight-month high

  • Bitcoin rebounded from $82,850 and continued trading between $83,000 and $85,000.
  • Bitcoin's market capitalization stood near $1.680 trillion, with market dominance at 58.6%.
  • Ether fell below $2,700 while Chainlink declined over 7% and Quant gained 13%.

Bitcoin continued to trade sideways between $83,000 and $85,000 after failing to extend its rally beyond an eight-month high near $87,000. The token rebounded after falling to $82,850 earlier in the day, keeping the lower end of its recent range intact, while its market capitalization stood near $1.680 trillion and its share of the cryptocurrency market was 58.6%. The move follows warnings from CryptoQuant that elevated profit-taking, weakening spot and futures demand, and greater altcoin transfers to exchanges had increased near-term correction risk despite its broader bull-market assessment. Ether slipped below $2,700, Chainlink fell more than 7%, while Quant, PUMP and NIGHT advanced.

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