Bitcoin consolidation range set between $80,000 and $87,000 amid US midterms

Following two hot inflation reports, Bitcoin fell below $80,000 on Oct. 15. Sygnum investment strategist Can-Luca Köymen suggests a range-bound move into the midterms, with options pricing Bitcoin between $80,000 and $87,000 over the coming month. Support is near $80,000-$81,500 (average US spot ETF buyer break-even), while resistance is near $88,000 (six-to-12-month buyer break-even). Glassnode data shows ETF aggregate cost basis near $81,500, and recent ETF inflows have reversed, with a net $859 million flowing out from Oct. 7 through Oct. 14.