Key takeaways

• Bitcoin traded below $83,000 on Monday after gaining more than 4% last week.
• Ethereum slipped below $2,700, while XRP consolidated around $1.500.
• BTC remains above its 50-day, 100-day, and 200-day exponential moving averages.

Bitcoin, Ethereum, and XRP began the week on a quieter note after last week’s gains. Bitcoin pulled back below $83,100 on Monday, Ethereum traded below $2,700, and XRP hovered around $1.500. 

The moves suggest traders are reassessing the market’s next direction following its recent advance.

Bitcoin’s technical picture remains constructive despite the dip. The largest cryptocurrency is holding above several closely watched moving averages, while its momentum indicators still lean positive. 

The immediate question is whether buyers can carry BTC back toward $85,000 or whether the pause develops into a deeper pullback.

Bitcoin holds above key moving averages

Bitcoin was trading at $83,100 on Monday after rising more than 4% last week. Its retreat from recent highs has so far left the broader near-term uptrend intact: BTC remains above its 50-day, 100-day and 200-day exponential moving averages (EMAs).

The 50-day EMA stands at $77,323. The 100-day EMA is at $73,931, while the 200-day EMA is at $74,253. 

Together, these levels form a series of potential support areas if selling pressure increases. Holding above them would suggest that the latest dip is a pause within the recent advance.

For now, BTC is trading well above that group of averages. That gives buyers room to absorb a modest pullback, although a drop toward the 50-day EMA would represent a more meaningful test of the rally than Monday’s move below $83,600.

The distinction matters after a strong week. A market can ease from its highs while retaining its upward trend, but repeated failures to recover may gradually weaken buyer confidence. Traders will therefore be watching both how far BTC falls and how quickly demand returns.

Momentum cools as $85,000 caps the upside

Bitcoin’s relative strength index (RSI) was near 61, a reading consistent with positive momentum. It remains below the level commonly associated with overbought conditions, leaving room for another rise if buyers regain control.

The moving average convergence divergence (MACD) indicator has cooled but remains slightly positive. 

That combination points to an uptrend that is still present, though less forceful than during the recent rally. Momentum readings can change quickly, so price action around nearby resistance will offer a clearer test.

The first barrier is approximately $85,000. Bitcoin would need to overcome selling around that level to make a stronger case for extending last week’s gains. A failed attempt could keep BTC in a period of sideways trading as buyers and sellers weigh the recent move.

On the downside, the current price area provides the first place to look for support. A more substantial decline would put the 50-day EMA at $77,323 in focus, followed by the longer-term averages near $74,000. Previously established horizontal support levels at $66,500 and $62,300 sit further below.

These levels outline the range of possible tests rather than a forecast that BTC will reach them. For the near term, the contest is much narrower: whether Bitcoin can stabilize above $83,000 and make another attempt at $85,000.

Ethereum’s move below $2,700 and XRP’s consolidation around $1.500 add to the cautious start to the week. 

Both assets are taking a breather alongside Bitcoin, although the figures provided do not establish equivalent support or resistance levels for either token.

For traders following the three largest cryptocurrencies, Bitcoin’s response to $85,000 may offer a useful gauge of broader market appetite. 

A renewed push above that barrier could signal that buyers remain willing to pursue last week’s gains. Continued consolidation, meanwhile, would leave the market waiting for a clearer direction.

In plain English, puts are relatively pricier than calls, but the relatively richness is barely even noticeable compared to the typical reading of around -4.41 over the past year or so. In other words, puts usually cost a lot more than they do now.

The takeway, therefore, is that bitcoin traders are chasing puts they are not yet positioning for a crash or deep sell-off.

For ether, calls are still more expensive than puts, but the premium has narrowed from a week ago, suggesting that bullish sentiment has cooled.

10x Research also noted an uptick in demand for puts.

“Put demand has jumped over the past few days. The question is whether that is a short-term hedge or the start of a regime shift,” it said on X.

On bitcoin, they still see cheap options, not panic pricing.

“Implied vol is back near cycle lows while realized vol runs 12 points higher, and some Bitcoin options are now priced at 30 vol on a market moving at 42.” Essentially, bitcoin options are still cheap. Stay alert!

Read more: For analysis of today’s activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk’s “Crypto Week Ahead.”

MEXC has said it resolved a dispute involving a user who reported losing roughly $340,000 after an attacker allegedly retained API access following an account takeover.

Shuang Fei, the affected user, said 322,110 USDT and 9,133,999 ONE were withdrawn from the account between 04:12 and 04:25 Beijing time on September 27.

MEXC customer support later said the exchange had contacted the user and “successfully reached an agreement.” It described the matter as “fully resolved,” but did not disclose the terms, citing user privacy.

The exchange has not publicly stated whether the user was reimbursed, whether an API key initiated the withdrawals, or what happened to the reported stolen assets.

MEXC account hack began with a security reset

The reported incident began early on September 25 when Shuang Fei received an email stating that an application had been made to change the account’s linked email and remove Google Authenticator.

According to the user’s account, the request arrived at 03:10 Beijing time and was approved 10 minutes later. Shuang Fei said the application was unauthorized and claimed the identification photograph and verification video submitted with it were not genuine materials provided by the account holder.

MEXC later told the user that the materials had initially met its requirements, according to screenshots shared in the thread. During a subsequent review, the exchange detected risk, froze the account and restored the original email address, the user said.

MEXC’s current security reset documentation states that users may be asked to provide account information, identity documents and a video holding their identification when resetting security verification.

Once the attacker controlled the account, Shuang Fei said the password was reset and a new Google Authenticator was linked. Login records shared by the user showed access from an IP address associated with Jakarta, Indonesia.

At 05:05:42, an API was created, according to the user’s account. Shuang Fei said MEXC only disclosed the existence of that API after the funds had already left the account.

Account recovery did not address the reported API

MEXC froze the account at approximately 10:55 on September 25 after its review detected suspicious activity, the user said.

Shuang Fei regained control over the following day by removing the attacker’s Google Authenticator, changing the password and linking a new authenticator. The final change was completed at 03:45:07 on September 26.

MEXC documentation confirms that cryptocurrency and fiat withdrawals are blocked for 24 hours after certain security changes, including modifications to a linked email or Google Authenticator.

A separate MEXC account guide states that freezing an account disables trading and login functions and makes “all API keys associated with your account” invalid.

The user has questioned how the reported API could later have been used if it had become invalid during the account freeze.

“Did this API become invalid at that time?” Shuang Fei asked. The user separately questioned whether it became active again after the account was restored.

MEXC has not publicly answered those technical questions.

$340K left shortly after the withdrawal lock expired

At 04:12:45 on September 27, roughly 27 minutes after the user’s 24-hour withdrawal restriction ended, the first reported outgoing transaction moved 1 USDT.

Five more withdrawals followed within roughly 13 minutes, according to Shuang Fei. The transfers eventually removed 322,110 USDT and 9,133,999 ONE, which the user valued at approximately $340,000.

No fresh login appeared in the account’s login history during those withdrawals, the user claimed.

Security monitoring service CertiK subsequently reported the user’s account of the incident, including the allegation that an attacker-created API remained available and was connected to the withdrawals. CertiK did not independently establish the attack method in its brief notice.

Lookonchain likewise reported the claims and noted that the account showed no new login activity during the withdrawal period.

MEXC completed an initial investigation and offered what it called corresponding solutions, according to an earlier public response reported by BlockBeats. The exchange later said an agreement had been reached with the user.

MEXC API rules allowed withdrawals without a default whitelist

MEXC’s API withdrawal policy provides further context for the user’s questions. In a 2023 announcement, the exchange said withdrawal whitelists would not be enabled by default for API withdrawals, allowing withdrawals to any address unless a whitelist was activated.

The exchange advised API users to enable withdrawal whitelists and avoid disclosing API keys.

Current withdrawal documentation states that normal withdrawals may require email, mobile or Google Authenticator verification, while separate security settings can permit withdrawals under specified conditions without repeated two-factor authentication.

Shuang Fei said the attacker-created API was not visible in the security-operation history available to the user and claimed no notification was received because the account email had already been changed when the API was created.

The user asked MEXC to disclose the IP address used to create the API, its permissions, whether it became invalid while the account was frozen, and which channel initiated the six withdrawals.

The episode follows earlier scrutiny of MEXC’s account controls. In 2025, the exchange returned funds after a separate MEXC $3.15 million frozen-funds dispute involving trader The White Whale.

MEXC has since promoted several user-protection measures, including a planned $500 million Guardian Fund expansion announced in May 2026.

For the current case, MEXC’s public response remains limited. Customer support said the dispute has been resolved and that further details will not be disclosed because of user privacy.

U.S. imports of Chinese goods (total items: 77)

Chinese imports of U.S. goods (total items: 1,619)

Bitcoin slid to weekly lows on Monday after earlier upside momentum faded, with traders pointing to a sudden buildup of sell-side orders on exchange books around $85,700. The move triggered notable liquidations, while broader risk sentiment also weakened as US markets reacted to renewed uncertainty over the Iran situation.

TradingView data showed BTC/USD dropping below $82,700 for the first time since Sept. 21, following a strong run that included the pair’s highest weekly close since late January near $84,450. Instead of pushing toward last week’s highs above $87,000, price encountered a concentrated pocket of resistance.

Key takeaways

• BTC/USD fell below $82,700 after failing to retest the prior week’s above-$87,000 highs.
• About $30 million in ask liquidity appeared around $85,700, coinciding with the reversal from higher levels.
• CoinGlass data indicated roughly $70 million of liquidations over 24 hours, primarily cutting into nearby long positions.
• US stock-market futures weakened alongside crude oil strength after President Donald Trump declined to rule out further strikes on Iran.
• Analyst Aksel Kibar warned Bitcoin could revisit the sub-$80,000 area if momentum doesn’t quickly stabilize.

Why order-book liquidity can flip momentum

According to TradingView, BTC/USD turned lower after a decisive attempt at consolidation above $84,450 failed to extend. The most cited microstructure signal was the appearance of a large, clearly defined layer of sell-side liquidity on exchanges around $85,700, with over $30 million clustered near that price.

In practical terms, these “liquidity walls” can matter because they concentrate sell interest at a specific level. If buying demand can’t absorb those resting orders, price may struggle to advance and can even accelerate downward as traders reassess the likelihood of a breakout. The reported timing—after Bitcoin failed to move back toward eight-month highs above $87,000—suggests the market’s attempt at continuation met a predictable obstacle.

Market participants also noted that this kind of conspicuous order-book change often draws attention from larger traders, including those managing hedges or positioning for future moves. Whether the liquidity layer represents genuine long-term supply or more tactical order placement remains difficult to confirm from order-book snapshots alone, but the impact on near-term price action was clear.

Liquidations underscore the speed of the downturn

While order-book data explains the “why” behind resistance, liquidation statistics help show the “how” behind the move. CoinGlass liquidation data, as referenced in the report, recorded liquidations of nearby long positions totaling around $70 million over 24 hours at the time of writing.

When price breaks through key intraday levels, leveraged traders who are positioned on the long side can be forced out quickly. That fast unwinding can compound selling pressure, turning a stalled breakout attempt into a sharper downside move, especially when liquidity is already strained by the presence of a heavy sell wall.

For investors and traders, these figures are less about day-to-day drama and more about confirming that the decline wasn’t purely slow drifting—there was enough leverage in the market to produce liquidation cascades.

Risk-off pressure from US geopolitics and oil

Bitcoin’s weakness also lined up with a deterioration in broader risk sentiment. The report linked the move in crypto to downside in US stock-market futures after President Donald Trump refused to rule out additional strikes on Iran.

In remarks reported by Fox News during the PGA Tour Presidents Cup on Sunday, Trump said: “I don’t want to say that. I don’t want to say that. I mean, it’s possible, but I just don’t want to say that.”

At the time of writing, Nasdaq futures were down about 0.9%, while WTI crude oil moved above $95 per barrel for the first time since Sept. 24. Rising oil prices often feed into wider concerns about inflation, economic activity, and risk appetite—factors that can spill over into crypto even when the immediate catalysts are order-book driven.

For traders monitoring correlations, the takeaway is that Monday’s drop wasn’t isolated to crypto microstructure alone; macro headlines appeared to reinforce a shift toward caution.

What to watch around $85,700 and next support zones

The $85,700 level is now central to the near-term debate. The report described it as the barrier that blocked another attempt to reach the 2026 year-open level at $88,700, where Bitcoin stalled last week.

Even with a strong weekly close previously, the failure to reclaim the path back toward $88,700 suggests bulls still need a clearer sequence of higher highs and higher lows rather than just intermittent pushes. As the price moves, the market will likely treat earlier resistance areas as potential pivot points—turning them into either launchpads or magnets for further selling depending on how quickly Bitcoin can recover.

Analyst Aksel Kibar warned that Bitcoin’s current behavior did not resemble a decisive breakout. In a post on X, he cautioned that hesitant price action can lead to returning inside the familiar range from $60,000 to $80,000—an area the report frames as where BTC/USD spent much of 2026.

The immediate risk highlighted by that commentary is a scenario where the market fails to hold above the recent breakdown area and instead revisits sub-$80,000 territory. In the short term, that means traders should watch for whether downside continues to attract liquidations or whether support reasserts itself quickly enough to prevent a deeper retracement.

Going forward, the key uncertainty is whether the $85,700 order-book pressure dissolves and allows price to rebuild toward $88,700, or whether liquidation-driven weakness and macro jitters keep pulling BTC back toward the $80,000 zone; monitoring both the exchange liquidity changes and broader US risk headlines may offer the most practical signal for the next move.

Authorities in Japan have arrested two suspects over their alleged role in helping a fake police fraud group steal cryptocurrency worth 81 million yen ($515,000) from a woman in her 40s.

Police believe the group operated out of Cambodia and is part of a larger operation.

Police Arrest Two In Crypto Scam

According to a report by FNN, Japanese authorities arrested Saki Okayama and Mitsuki Minamisawa in connection with the scam. Group members impersonated police officers and used intimidation tactics to pressure their targets into transferring their crypto assets. The group’s latest target, a woman in her 40s, was told her bank card was linked to a money laundering investigation.

The group claimed that 400 accounts were used to launder funds from a fraud case that led to 600 billion yen in losses.

How The Scam Worked

Authorities also explained how the scam worked. It began with a call from an individual claiming to represent the Osaka Prefectural Police. The caller reportedly told the woman her card belonged to one of several accounts linked to a money laundering investigation.

The woman was also told she was close to being arrested unless she proved her innocence. Authorities alleged that the false accusation and pressure from the scammers led the victim to transfer 81 million yen worth of cryptocurrency.

Authorities have not disclosed which cryptocurrencies were stolen or the wallet addresses that received the crypto. However, they allege the suspects are part of a larger organization and are linked to confirmed losses of around 240 million yen from similar scams. Authorities believe the group operates out of Cambodia, and that a Chinese national is at the helm of the entire operation.

Fake Police Scams And Rising Losses

The arrests come as losses from fake police scams mount in Japan. According to the country’s National Police Agency, fake police scams have resulted in 61.71 billion yen across 5,422 cases in the first seven months of 2026. While the number of cases has dropped 6.4%, losses have jumped by 25.7%. The scale of the frauds has forced authorities to treat such scams as a separate category. Police statistics have reported a 42.9% jump to 210.81 billion yen in special fraud losses from a year earlier.

In a separate incident, an individual lost 73 million yen to scammers pretending to be officials from the Tokyo Metropolitan Police Department who forced him to transfer the funds to prove his innocence. Authorities have urged people not to fall victim to such scams, stressing that they would not ask someone to transfer funds to designated accounts.

Japanese Regulators Strengthening Fraud Controls

Regulators in Japan are focusing on strengthening controls to check any fraud proceeds moving through cryptocurrency exchanges. The country’s Financial Services Agency and National Police Agency have proposed implementing withdrawal delays and stronger checks on newer wallet addresses. This includes a waiting period before new addresses can be used, stronger measures to monitor transactions, and account restrictions in cases of suspicious activity.

The authorities have also asked exchanges to improve authentication measures and response times when asked to identify suspicious transactions.

The proposal comes after a substantial jump in fraud cases and losses. The National Police Agency reported 18,067 special fraud cases and 151.47 billion yen in losses until May, with fake police schemes accounting for 40.32 billion yen.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.