Bitcoin Holds $82,500 as Markets Absorb Ledger Theft Reports
Bitcoin Reclaims $83,000 Before Settling Near Key Support
Bitcoin rebounded from Thursday's drop to $80,350, pushing back above $83,000 when US markets opened on Friday. By midday, the price settled around $82,500 as traders waited for the weekly close. Crypto markets showed little sign of panic despite fresh reports of funds being stolen from Ledger hardware wallets. Rolling 24-hour liquidations — positions forced to close when traders lose margin — passed $1 billion.
Market Data Shows Liquidity Building Above
Price data showed BTC trading through available sell orders on exchanges, with thicker liquidity building around the $84,000 level. US stocks also rose Friday, with the Nasdaq Composite recovering from earlier selling pressure. The tech-heavy index had come under stress after OpenAI issued weaker-than-expected earnings projections.
Ledger Links Theft Claims to Southeast Asian Reseller
Ledger addressed reports of stolen funds in a post on X, linking the incidents to CryptoBillis, a reseller based in Southeast Asia. The company advised affected users to move their assets to a new Ledger device with a fresh recovery seed. Hardware wallets have faced increased scrutiny recently. Coldcard, another major brand, suffered a multi-phase hack in July and August that resulted in significant losses.
Bitfinex Expects Range-Bound Trading Through October
Bitfinex Alpha, the research division of the Bitfinex exchange, forecast continued sideways trading between $81,300 and $86,500 ahead of US inflation data due October 14. The firm noted repeated tests of $84,000 were likely during that period. The $82,500 level has acted as support since mid-September and also forms part of a potential inverse head-and-shoulders chart pattern — a setup that preceded a major rally in 2023.
What Is Confirmed
Bitcoin trades around $82,500. It rebounded from $80,350 to above $83,000 on Friday. Ledger confirmed theft reports are tied to a reseller called CryptoBillis in Southeast Asia. Bitfinex Alpha expects range-bound trading until October 14. Over $1 billion in crypto liquidations occurred in a 24-hour window.
Why This Matters for Investors
The market's ability to absorb news of hardware wallet thefts without significant selling pressure suggests traders remain focused on broader technical levels and upcoming macro data. The weekly close and the October 14 US inflation reading are seen as the next major catalysts for price direction.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.
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