Bitcoin Shakes Off Spooky Season Jitters: Can Bulls Keep It Going?

In brief

• Bitcoin is up 2.24% at $83,591.79 after dipping to $80,953.41, a higher low than the $80,365.12 swing that started its latest bounce.
• The Crypto Fear and Greed Index sits at a neutral 55, down from an "extreme greed" peak of 82 in August.
• Myriad traders give 54% odds that Bitcoin touches $80,000 in October and 45% odds it reaches $87,500.

Bitcoin is bouncing today following a week that had traders swapping "Uptober" memes for "spooky szn" ones after BTC cut its September gains in half.

The price of Bitcoin today slid to $80,953.41 early Tuesday, extending a Monday sell-off, then reversed to $83,591.79, up 2.24% on the day.

The Crypto Fear and Greed Index, a 0-to-100 sentiment gauge built from momentum, volatility, options positioning and social data, fell to 53 from an "extreme greed" reading of 82 on Aug. 26. It reads 56 today, a neutral score. What it boils down to is this: The August euphoria is gone, but traders aren’t panicking either.

Bitcoin ETFs are down a net $386.3 million in October, and outflows force funds to sell actual Bitcoin. Wednesday's Consumer Price Index report, expected to show annual inflation rising to 3.6% from 3.4%, is the next test: a hotter print would boost rate-hike bets and likely pressure Bitcoin. The Federal Reserve meets Oct. 27-28.