Wintermute: Bitcoin needs to reclaim $82,000 to $82,500 to have a chance of resuming its uptrend.

BlockBeats news, October 27 - Wintermute stated that Bitcoin fell 2.43% last week, marking its third consecutive weekly decline, breaking below the $82,500 support level and retesting the $80,000 mark. On the macro front, rising energy prices and inflation concerns are replacing AI financing issues as the primary market risks. Bitcoin's recent price action has been highly correlated with Nasdaq and AI-related stocks, and ETF fund flows have also begun showing two-way volatility. The Federal Reserve's interest rate decision and policy statements will serve as important catalysts for Bitcoin's short-term trajectory. If Bitcoin fails to hold the $80,000 level, the next key support level is $76,000; if it effectively breaks below that level, the price could further probe the $70,000 range. In the short term, Bitcoin needs to reclaim the $82,000 to $82,500 range to have any hope of resuming its uptrend. If the Fed signals a hawkish stance, the market may reassess December rate hike expectations, pushing yields higher and intensifying downward pressure on Bitcoin; if policy statements leave room for the December decision, it could create conditions for a Bitcoin rebound. Market directional confidence is currently lacking, and caution is likely to persist ahead of the Fed decision and the release of U.S. Q3 GDP and September Personal Consumption Expenditures (PCE) data. If the Fed signals a dovish stance but subsequently released PCE inflation comes in above expectations, the market may sell off tech stocks as inflation concerns re-intensify, dragging Bitcoin down as well. The firm emphasized that it is not explicitly bearish at present, but remains inclined toward a cautious approach until Bitcoin reclaims the $82,500 level.