Bitcoin price started the week higher, trading near $82,769 on Monday morning, up about 1.6% from Friday’s close of $81,501 after modest gains over the weekend.
The world’s largest cryptocurrency opened Monday at $82,002 and moved between a low of $80,568 and a high of $82,774 over the past 24 hours. Sunday alone added around $620.
Key levels for the Bitcoin price this week
Traders are watching Friday’s close of $81,501 as the first support. A drop below it would bring the weekend low of $80,568 into focus, followed by the $80,000 mark, which Bitcoin briefly broke on October 15 when it dipped to $79,709.
On the upside, the next hurdle is Friday’s high of about $82,826.
Thin weekend trading
Much of the latest move came on light volume. Weekend trading was well below normal weekday levels, and spot Bitcoin ETFs do not process creations or redemptions while US and European stock markets are closed.
That means the gain still needs to be confirmed once full trading resumes during the week.
Fed decision ahead
Market attention is also turning to the US Federal Reserve’s interest rate decision on October 28. Traders often reduce risk ahead of major central bank meetings, which could keep Bitcoin in a tight range in the days ahead.
Crypto prices are highly volatile, and readers should do their own research before making any investment decision.
