In this video, we break down Bitcoin on the 4hr chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading at $85,500 on Monday, October 5, 2026. The premier digital asset opened higher this morning, recovering from its recent retracements to climb 2.1% within the past 24 hours as it attempts to cleanly turn its 2026 yearly candle green.
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Bitcoin Insights Today
• Fading Rate Hike Bets Boost Crypto: The primary catalyst for today's market optimism is a weaker-than-expected U.S. non-farm payrolls
eport. The Labor Department reported an increase of just 29,000 jobs for September, heavily missing the consensus expectation of 90,000.
• Fed Speculation Swings: Following the soft employment data, the CME Group's FedWatch Tool indicates an 80.6% probability that the Federal Reserve will hold interest rates steady at its upcoming meeting, prompting traders to completely price out an October rate hike.
• Corporate Accumulation Steadies: "Strategy Inc." (the market's largest corporate Bitcoin accumulator) announced it acquired another 334 BTC between October 1 and October 4 for $28.7 million. The company recorded a staggering $21 billion unrealized gain on its digital assets for Q3, returning to net profitability as Bitcoin enjoyed a late-summer rally.
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