Why has Bitcoin's momentum stalled below $90,000?

Recent news coverage highlights a potential stalling in upward momentum as ETF buying slows near breakeven levels, according to reports from Crypto news. Additional commentary from Benzinga points to emerging warning signs within the recent rebound. These themes are currently circulating in the newsflow, rather than proven drivers of price.

How could the upcoming FOMC minutes affect BTC/USD?

The US FOMC Minutes are scheduled for release on the economic calendar tomorrow at 18:00 UTC. While this event carries a high impact rating, specific market reactions will depend entirely on how the details align with broader market expectations at the exact time of the release.

What support levels are critical for holding the Bitcoin uptrend?

The nearest support level below the current price is the previous day low at 84930.52. Further down the pivot ladder, S1 sits at 84811.58, followed by S2 at 83843.98 and S3 at 82757.43.

Bitcoin (BTC/USD) Latest News: Momentum Stalls Near Daily Pivot

Market news Neutral bias Oct 6, 2026, 18:48 UTC

Marcus ReedTechnical Analysis Lead · ForexR analyst

Bitcoin (BTC/USD) trades slightly lower on the day, caught between S1 support and the daily pivot. Conflicting timeframe trends highlight intraday consolidation ahead of tomorrow's FOMC minutes.

Financial analysts near multi monitor workstation using tablet device to analyze capital profit risks. Hedge f

Price85,585.27

Day change-0.23%

Day range85,081.66 - 86,683.68

ATR (14)2,191.72

Resistance	Level	Support	Level
R3	88,919.88	S1	84,811.58
R2	87,952.28	S2	83,843.98
R1	86,865.73	S3	82,757.43
Previous day high	86,984.67	Previous day low	84,930.52
20-day high	87,389.44	20-day low	74,919.00
Daily pivot 85,898.13. Data as of 2026-10-06 18:45 UTC; price from a live feed, levels computed from the previous completed daily bar.

Bitcoin (BTC/USD) 1-hour chart with the daily pivot at 85,898.13, R1 86,865.73, R2 87,952.28, S1 84,811.58, S2 83,843.98 and the bullish and bearish scenario paths — Bitcoin (BTC/USD), 1-hour candles with the daily pivot levels, the range between nearest support and resistance, and both scenario paths. Data as of 2026-10-06 18:45 UTC.

Bitcoin (BTC/USD) is currently trading at 85585.27 as the New York session moves toward its close at 21:00 UTC. The asset is down 193.92 dollars, representing a 0.23% decline on the day. Price action positions the pair between S1 at 84811.58 and the daily pivot at 85898.13. The nearest resistance level overhead is the daily pivot at 85898.13, sitting 312.86 dollars away. On the downside, the nearest support rests at the previous day low of 84930.52.

ETF Momentum Slows Near Recent Highs

Financial headlines today focus on potential friction in the recent digital asset rally. Coverage highlights that upward momentum is stalling as ETF buying slows near breakeven levels, as reported by Crypto news. In tandem, Benzinga notes emerging warning signs regarding the strength of the broader market rebound. Additional commentary from Bitcoin discusses performance metrics, specifically how missing out on the asset's best days turns long-term gains into a net loss. On the adoption front, Crypto news also covered Ledger adding Bitcoin-backed loans to its wallet platform. These are current topics circulating in the newsflow, rather than proven catalysts directly driving today's price action.

News sentiment metrics from an independent provider currently show a media mood of 83 out of 100 with a 71% bullish share. However, the separate opportunity reading registers a neutral score of 9, having dropped from a bullish 58 in the past 24 hours.

Technical Landscape: Consolidation and Key Pivots

The technical picture for Bitcoin (BTC/USD) shows conflicting signals across different timeframes. The daily trend remains up, supported by price action holding well above the 200-day exponential moving average at 75122.58. The 4-hour chart also indicates an upward trend. Conversely, the 1-hour trend is mixed, reflecting the intraday consolidation and contributing to a neutral immediate bias. Intraday volatility has kept the price within a 1602.02-dollar range, moving between the day low at 85081.66 and the day high at 86683.68. This daily movement accounts for 73% of the 14-day average true range, which sits at 2191.72 dollars. The 14-day relative strength index on the daily chart stands at 66.6.

Taking a wider view, the 5-day high is positioned at 87232.12 with the 5-day low at 83122.01. The 20-day high extends to 87389.44 and the 20-day low is established at 74919. Over the last five days, the asset has gained 2.38%, contributing to a broader 12.79% increase over the past 20 days. Yesterday's session closed at 85779.19, after trading through a total range of 2054.15 dollars between the previous day low of 84930.52 and the previous day high of 86984.67.

Macro Drivers: Market Braces for US FOMC Minutes

Market attention is shifting toward the economic calendar, with the US FOMC Minutes scheduled for release tomorrow at 18:00 UTC. Ahead of this event, positional data offers a look into recent futures market participation. The weekly CFTC Commitments of Traders report, as of the week to September 29, shows that large non-commercial speculators held a net long position of 2465 contracts in Bitcoin CME Futures. Compared to the preceding week, these speculators reduced net long Bitcoin (BTC/USD) positioning by 291 contracts. This data reflects historical positioning and does not serve as a forecast for future price direction.

Potential Breakout and Breakdown Scenarios

Applying pivot point boundaries defines the next directional scenarios. In a bullish path, a break above R1 at 86865.73 would open the way to R2 at 87952.28. A move back below the daily pivot at 85898.13 would invalidate this view.

Under a bearish setup, a break below S1 at 84811.58 would open the way to S2 at 83843.98. A move back above the daily pivot at 85898.13 would invalidate the downward perspective.