Can Bitcoin’s price stay at $82K? A week of macro data will decide

Bitcoin is up 43.8% from the $57.8k June low, which might be the bear cycle low. Can $BTC defend the $82k demand zone, or will a weak macro outlook force a bigger sell-off?

Is the Bitcoin price correction over?

The Futures Open Interest Percent Change Oscillator measures the rate of change in OI, rather than tracking the raw nominal OI. This rate of change helps pinpoint market phases of overheating in speculative buildup and when leverage flushes occur.

When the oscillator falls below the low (yellow) at -8.5%, it tends to signal an end to a local correction.

Over the past few days, the metric has dipped toward the September 10 lows of -6.16% and was at -4.8% at the time of writing.

It was not definitive proof that the correction has ended, but Bitcoin is getting there.

Further drawdown remains a possibility

On the 4-hour chart, we can see that the $85k area has become a local supply zone. The $83k area was being tested as support. Failure to stay above $82,850 would likely mean a deeper retracement below $80k is possible.

A correction below $80k would not invalidate the market structure. As things stand, a drop below $74,967 is needed to flip the H4 swing structure bearishly, but a dip below $82,874 would signal a short-term bearish shift.