Bitcoin Stabilizes Near $83,000 After Overnight Decline, With Range-Bound Trading Continuing

The U.S. third-quarter earnings season begins today, with Goldman Sachs, JPMorgan and UnitedHealthcare among the companies reporting results. Investors are also preparing for Thursday’s September Consumer Price Index (CPI) release, a key indicator that could influence financial markets.

Wells Fargo CEO says consumers and businesses remain strong

Wells Fargo (WFC) CEO Charlie Scharf said the bank’s customers continue to show resilience as the lender released its third-quarter earnings.

“Our data shows that our consumer and business customers are doing well,” Scharf said.

He cited higher consumer spending, low loan delinquency rates and growing deposit and investment balances as evidence of healthy financial conditions.

Businesses are also maintaining strong balance sheets, with losses remaining low. Scharf acknowledged that elevated interest rates, rising oil prices and persistent inflation could weigh on the economy. However, he said investment in AI infrastructure, strong employment and consistent wage growth continue to provide meaningful support.

Wells Fargo shares edged lower in premarket trading despite earnings per share exceeding analyst forecasts, as revenue came in below expectations.

Cipher Digital falls 13% after announcing convertible note offering

Cipher Digital (CIFR), which has shifted its focus from Bitcoin mining to data center operations, plans to raise $850 million through convertible notes due in 2032. The securities will carry a zero-percent coupon.

The announcement sent the company’s shares down approximately 13% in premarket trading.

Strive purchases 3,311 BTC, lifting holdings to 32,773 Bitcoin

Strive (ASST), led by Matt Cole, acquired 3,311 Bitcoin last week, increasing its total holdings to 32,773 BTC.

The purchase, valued at approximately $275 million, was financed through the sale of SATA preferred stock and proceeds from warrants exercised for the company’s common shares.

Strive’s stock has declined nearly 10% in recent trading sessions, partly due to the impact of those warrant exercises. Shares were flat in Tuesday’s premarket session.

Arthur Hayes questions tokenization’s ability to generate profits

Crypto veteran Arthur Hayes has challenged the business case for tokenizing traditional financial assets, arguing that the industry has yet to demonstrate how blockchain-based transfers can deliver substantial earnings.

Hayes discussed the process of moving securities held through the Depository Trust & Clearing Corporation (DTCC) onto a blockchain. He questioned how much money companies could realistically make from such a transition.

Although better recordkeeping could be beneficial, Hayes said tokenization still needs a clearer path to profitability. Nevertheless, he suggested that investors might continue buying tokens during a rally if prominent Wall Street contrarians begin recommending them.

Bitcoin’s rebound from its 50-day moving average signals continued demand, FxPro says

Bitcoin recovered after stop-loss selling pushed its price down to around $81,000 during early Tuesday trading. The decline brought BTC back to its 50-day moving average before buyers drove it toward $83,700.

Stop-loss orders automatically sell an asset once it reaches a predetermined price. When multiple orders are triggered simultaneously, they can accelerate downward price movements. Bitcoin’s 50-day moving average tracks its average closing price over the previous 50 days and is commonly used to evaluate its medium-term trend.

Buyers defended this technical level on Tuesday, echoing last Thursday’s session, when Bitcoin reached a low near $80,400.

Alex Kuptsikevich, chief market analyst at FxPro, said the recovery demonstrated how quickly Bitcoin can rebound after leveraged long positions are liquidated.

He said BTC could move toward $85,000 and potentially test $87,000, the upper end of the previous week’s trading range, if the latest decline proves to be a healthy correction. The swift recovery may also indicate renewed risk appetite, although other markets need to confirm that trend.

Bitcoin rebounds toward $84,000 as ZEC and HYPE lead altcoin declines

Bitcoin traded within a roughly $3,000 range over the past 24 hours. After falling to approximately $81,000 during early Asian trading, BTC climbed above $84,000 before trading near $83,500 early Tuesday.

Altcoins posted weaker performances. ZEC fell almost 8% to around $1,210, while HYPE declined nearly 6% to approximately $82. SOL and DOGE each lost about 4%, and XRP dropped around 3% to $1.36. Ether and BNB declined between 1% and 2%, according to CoinDesk data.

The Crypto Fear & Greed Index fell to 57. While the reading remained in the “greed” category, it was the lowest recorded since September 18.

Meanwhile, semiconductor stocks extended their losing streak. Nasdaq 100 futures slipped 0.5%, and an exchange-traded fund tracking chipmakers was heading toward its sixth consecutive daily decline. Investors are increasingly questioning the sustainability of AI spending amid safety concerns and signs of financial strain.

JPMorgan shares dropped more than 2% in early trading after its earnings report marked the start of the U.S. reporting season. European equities performed better, with the Stoxx 600 advancing 0.4% as oil prices and bond yields retreated.

Thursday’s U.S. inflation report is the next major event on the market calendar. Its results could influence Federal Reserve policy expectations and shape trading across cryptocurrencies, equities and other risk-sensitive assets.