Bitcoin price tests $83K support as 4-hour MACD turns bearish

Bitcoin price fell to about $83,450 on Sep. 25 after a rally above $87,000 earlier in the week gave way to a narrower trading range. The pullback comes as traders weigh a quarterly options expiry against higher U.S. Treasury yields.

According to the daily Bitcoin price chart, BTC traded near $83,476 after reaching $85,255 during the Sep. 25 session. The price was still above the chart’s 20-day Bollinger Band midpoint at $79,951, despite retreating from an upper band near $86,724.

The decline followed a sharp move earlier in the week that carried Bitcoin above $87,000. The daily chart showed the relative strength index at 62.03, down from the higher readings reached during the rally but still above the neutral level of 50.

Bitcoin holds above $83K as the 4-hour MACD weakens

Bitcoin’s 4-hour chart showed the price falling from the $86,000–$87,000 area and then trading mostly between $83,000 and $85,000. Its latest candle on the chart opened at $84,583, fell to $83,183, and traded near $83,454.

The 4-hour MACD line stood at 251.25, below its signal line at 551.84. Its histogram reading of minus 300.59 showed that short-term momentum had weakened after the earlier advance. The Awesome Oscillator remained positive at 154.98, although its bars had narrowed toward zero.

Trader Ardi described $83,000 as local range support and a former May high. In a Sep. 25 market post, Ardi said a loss of that level could put $81,000 back in view, while reclaiming $85,200 as support could open another test of the $87,000 highs. Trader Daan Crypto Trades separately identified $83,500 to $85,000 as the range Bitcoin had occupied over the previous two days.

The levels are close to concentrations on CoinGlass’s three-day Bitcoin liquidation heatmap. The chart showed a bright band near $83,300, with further liquidity around $82,500. Above the market, clusters appeared near $85,200–$85,500 and around $87,300. The heatmap shows where leveraged positions may face liquidation if price reaches those levels; it does not establish which direction Bitcoin will move next.

Options expiry meets a rise in U.S. Treasury yields

A large quarterly options expiry has added another event for derivatives traders to navigate. Options positions can affect hedging and trading around settlement, although the expiry alone does not establish what caused Bitcoin’s decline.

The U.S. bond market has also moved into focus. Dan Khus, chief analyst at LVRG Research, told crypto.news that Bitcoin and Ether were holding support as the Treasury sell-off eased slightly. His comments put the 10-year yield near 5.19% after a 30-basis-point rise.

“Bitcoin and ether are maintaining in support as the Treasury sell-off cooled slightly with the 10-year easing back toward 5.19% after a 30-basis-point surge. Looking ahead, focus is on whether yields stay elevated, October Fed hike odds hold above 70%, and if spot ETF flows can absorb weekend options expiry, along with any further oil-driven inflation shock from developments in the US-Iran conflict.”

The Federal Reserve raised its target rate by a quarter percentage point to 3.75%–4.00% on Sep. 16. Khus’s October figure refers to market expectations for another increase, rather than a decision already made by the Fed. Oil prices and developments in the U.S.-Iran conflict could affect those expectations through their impact on inflation.

ETF demand and $83K support frame Bitcoin’s next test

U.S. spot Bitcoin exchange-traded fund flows offer a separate measure of demand as the market absorbs the price reversal. Khus identified those flows, alongside yields and the options expiry, as factors to watch. Farside Investors’ ETF flow table tracks the funds’ daily net subscriptions and redemptions.

For the near-term chart setup, the first test is whether Bitcoin can hold the $83,000–$83,500 range cited by the traders and visible on the 4-hour chart. A move below it would bring the heatmap’s lower liquidity bands and Ardi’s $81,000 level into focus. On the upside, a sustained move back above $85,000–$85,200 would put the higher liquidation clusters and the recent $87,000 peak back in view.

Bitcoin’s daily RSI remained above 50, and its price remained above the Bollinger Band midpoint, while the 4-hour MACD showed weaker short-term momentum. Those readings leave the next move tied to the range boundaries as traders assess the expiry, U.S. yields, and ETF flows.