Bitcoin Struggles Near 84,000 Dollars Amid Weak Spot Demand

Bitcoin (BTC) is entering October, historically a favorable month, while facing challenges with insufficient spot demand. Market volume remains dominated by futures trading as the price tests the 84,000 to 85,000 dollar range. Recent PCE inflation data showed a 3.4% year-over-year increase, yet the initial bullish reaction in BTC quickly faded. Analyst Ted Pillows suggests a potential pullback to the 79,000 to 80,000 dollar range before a recovery, noting that the inability to sustain gains is a bearish signal. While BTC remains above key moving averages, market composition on Binance indicates a heavy reliance on futures.