Black Monday Fears Fade as Bitcoin Returns to $83,000

On Monday, October 19, Bitcoin (BTC) climbed back toward $83,000 following a drop to $80,500 the previous day. This recovery occurred alongside climbing US stock futures and defied forecasts of a severe market crash during early trading sessions. The upward movement follows a slide from over $84,000 to sub-$80,000 levels last week, which was triggered by hotter-than-anticipated US inflation data.

How Far Has Bitcoin Recovered?

According to CryptoPotato, the cryptocurrency reached $83,000 earlier on Monday, marking its first appearance at that threshold since the inflation-spurred selloff of the prior week. Relative to Sunday’s low of $80,500, this represents an increase of approximately 3.1%.

Even with this bounce, the price of Bitcoin remains below the $84,000-plus mark where the downward trend originated.

Why Were Traders Expecting a ‘Black Monday’?

Both consumer and producer US inflation figures released last week surpassed forecasts, reigniting worries regarding persistent inflation.

A preceding recovery attempt stalled at $82,800 before a subsequent rejection on Friday pushed BTC beneath $81,000 amid widespread weakness across financial markets.

A flash crash materialized on Saturday evening, which CryptoPotato noted heightened expectations for a “Bitcoin Black Monday”—a callback to the historical market crash 39 years prior. By Monday morning, however, Bitcoin and US futures defied that scenario, though the trading session was still ongoing.

Equity Futures Rise as Oil Retreats From $110

US equity futures also advanced, with contracts for both the Nasdaq 100 and S&P 500 picking up steam. Meanwhile, oil pulled back from Friday prices: Brent dropped past 2.2% to $107.95 per barrel after previously hitting $110, while US crude dropped 2.07% to $99.20.

These shifts created a less defensive environment compared to the previous week, when a selloff in the chip sector dragged down equities.

Flash PMIs and MARA’s 1,000 BTC Transfers

Looking ahead, the macroeconomic schedule features inflation data from other major global economies. CoinDesk’s calendar for the week points to upcoming flash October purchasing managers’ indexes, presenting traders with another batch of economic metrics to evaluate in the wake of last week’s inflation surprise.

Additionally, miner wallet movements remain a key focus. Lookonchain reported that wallets tied to MARA transferred 1,000 BTC—worth $82.8 million—to Binance and Gate across a span of five days, as highlighted by BeInCrypto. It is important to note that deposits do not automatically signify sales.

MARA has previously stated its intention to continue offloading Bitcoin on an opportunistic basis. The company’s third-quarter financial report is expected to shed more light on these transactions, making the forthcoming filing an important document to monitor alongside Bitcoin’s capacity to maintain its recent gains.

?FAQ

01Which US inflation releases preceded last week’s Bitcoin selloff?

The consumer price index and producer price index releases came on October 14 and 15. Both exceeded expectations, according to CryptoPotato.

02How did oil prices move on Monday?

Brent fell more than 2.2% to $107.95 a barrel after touching $110, while US crude declined 2.07% to $99.20. Oil pulled back from Friday’s levels as Bitcoin and US equity futures moved higher.

03How did Nasdaq 100 and S&P 500 futures perform early Monday?

Nasdaq 100 futures gained 1%, while S&P 500 futures rose 0.7%, according to BeInCrypto. Those were early Monday futures moves, ahead of the completed US cash-equity session.

04When are the week’s flash October PMI reports scheduled?

The flash October PMI releases are scheduled for Friday. Tesla and CME Group are also due to announce earnings during the week, according to CoinDesk’s calendar.

05Do the MARA-linked exchange deposits confirm that Bitcoin was sold?

No. The 1,000 BTC deposited into Binance and Gate could also have been moved for collateral or custody purposes; MARA’s quarterly results should provide more information about actual sales.

This article is for information only and is not financial advice.