Bitcoin Slips to $84k as Rate-Hike Odds Weigh on BTC

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Bitcoin (BTC) is trading below $84,000 on Thursday, deepening losses after a 2% drop the previous day. The move coincides with renewed concerns over inflation and potential rate hikes, following an uptick in US economic survey data.

US composite and services Purchasing Managers’ Index (PMI) readings climbed to 58.4 and 58.7 in September, respectively, indicating higher prices paid by businesses, as previously reported by FXStreet. These figures are feeding expectations that the US Federal Reserve (Fed) could opt for another interest rate increase at its October policy meeting.

According to the FedWatch Tool, markets are assigning approximately a 70% probability that the Fed will raise the federal funds rate by 25 basis points (bps), bringing the target range to 400-425 bps.

Polymarket positioning appears to align with this view. Bets on the “Fed Decision in October?” contract, with total volume of $11.56 million, indicate a higher probability of a 25 bps hike, while the implied odds of a rate cut have fallen to below 1%.

Bitcoin Holds Above Key Moving Averages Despite Pullback

At press time on Thursday, Bitcoin trades around $83,915, marking a third straight session in negative territory. Despite the short-term weakness, BTC continues to trade above its major trend indicators, preserving a broader upside structure.

On the daily chart, BTC remains above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), located at $76,122, $73,074, and $76,122, respectively. This positioning keeps the longer-term technical bias pointed higher, even as near-term momentum eases.

The Relative Strength Index (RSI) reads 63 on the daily timeframe, having slipped out of overbought territory. Meanwhile, the Moving Average Convergence Divergence (MACD) stays above its signal line, although the histogram profile is fading, signaling that bullish momentum is losing intensity.

On the downside, the first notable support sits at the reclaimed $82,500 area. Below that, the 50% Fibonacci retracement of the $97,924 to $57,800 move comes in at $75,233, near the 50-day EMA at $76,122, which together form a key demand zone.

On the topside, immediate resistance is located at the 78.6% Fibonacci retracement level at $87,476. A clear break above this barrier could open the way toward the psychological $90,000 mark, followed by the Fibonacci reference point at $97,024.

Worldcoin (WLD) Trades in Neutral Band, Vulnerable to Bearish Shift

Worldcoin (WLD) is changing hands near $0.4000 at press time on Thursday. The token remains above the 50-day EMA at $0.3948 and the 100-day EMA at $0.3891, but it continues to face resistance from the 200-day EMA at $0.4189.

This setup leaves WLD in a broadly neutral near-term configuration, with price fluctuating between rising trendline support around $0.3700 and a nearby ceiling at the September 7 high of $0.4810.

The MACD line stays slightly above its signal, while the RSI hovers close to the 50 level, both pointing to a consolidation phase that could tilt bearish if support levels give way.

On the downside, initial demand is aligned with the 50-day EMA at $0.3948, while the 100-day EMA at $0.3891 offers an additional buffer beneath that level.

On the upside, the September 7 peak at $0.4810 remains the first notable resistance zone and has already capped gains earlier this week.