Bitcoin slid to the $82,000 level on October 9, 2026, as selling pressure intensified across crypto markets. The decline has put the spotlight on the $80,000–$80,500 demand zone, where the 0.236 Fibonacci retracement near $80,300, the rising 50-day simple moving average, and the lower boundary of Bitcoin’s upward channel converge.
Chris Kuiper, vice president of research at Fidelity Digital Assets, cautioned that the bear market may not be over. He said it is not clear whether the advance since August represents a new uptrend or merely a counter-trend recovery within an ongoing bear market. 'The bear market may not be over yet,' Kuiper stated, adding that price increases do not guarantee the end of the bear market. He pointed to Bitcoin’s historical four-year cycle, noting that the last significant trough occurred in November 2022 and that the current cycle could bottom around November 2026. However, Kuiper stressed that the four-year cycle never repeats with complete precision, leaving room for another decline and a potential new low in November or later.
Jack Yi, founder of LD Capital, also warned that the correction may continue. Yi said that after Bitcoin dropped below $82,000, the pace of the two-day decline increased the likelihood of a move below $79,000. If that level is lost, he expects market attention to shift to the $75,000 area. Yi described the current move as a normal correction within a bull market rather than a definitive end to the broader uptrend.
Later in the session, Bitcoin found buyers near the $80,000–$80,500 support cluster and recovered toward $82,900. At about 14:48 UTC, CoinMarketCap showed Bitcoin up 0.36% over 24 hours at $82,909. The wider large-cap market remained weaker: Ethereum traded at $2,488, down 1.65%; BNB at $741, down 2.16%; XRP at $1.38, down 1.36%; Solana at $110, down 1.98%; Dogecoin at $0.0846, down 2.74%; and Cardano at $0.2377, down 3.96%.
A calmer geopolitical signal also helped ease immediate risk pressure after President Donald Trump said the United States would avoid attacking Iran before the November 3 midterm elections, according to the Guardian. Traders see a daily close above $80,000–$80,500 as key to confirming that buyers are defending the zone. A sustained close below that area would put the September recovery under greater pressure.
This article is for informational purposes only and does not constitute investment advice.
