Bitcoin (BTC) briefly fell below $80,000 following the release of a high U.S. Producer Price Index (PPI), but has since rebounded. As hawkish comments from U.S. Federal Reserve (Fed) officials raise the possibility of additional rate hikes in 2026, large investors are instead moving to accumulate.

According to CoinGap on the 16th (local time), Bitcoin fell below $80,000 after the U.S. PPI recorded a 6.3% increase on the 15th (local time), but later recovered its price. During this process, accumulation moves by large investors were also detected.

Expanding Fed Hawkishness... December Rate Hike Possibility Grows

CoinGap reported that Cleveland Fed President Beth Hammack warned that the Fed could pursue a more hawkish monetary policy if inflation continues. At a Goldman Sachs event in New York, Hammack explained that if businesses and consumers expect high inflation to persist, it could become more difficult for the Fed to control price pressures. These comments came after the U.S. September 2026 (local time) PPI recorded a 6.3% increase.

According to CoinGap, the high PPI reading has increased the likelihood that the Fed will raise rates at the December 2026 (local time) Federal Open Market Committee (FOMC) meeting. As a result, Bitcoin fell below $80,000 for the first time since September 18 (local time).

Chicago Fed President Austan Goolsbee also expressed disappointment with this week's inflation indicators. Goolsbee explained that price pressures can only ease once inflationary drivers such as geopolitical tensions and tariffs disappear.

Whale Wallets at Record High... Retail and Futures Traders Selling

Amid significant price volatility, large investors are increasing their holdings. According to Santiment data cited by CoinGap, the number of key investor wallets holding 10 to 10,000 BTC has grown rapidly since mid-July (local time), reaching a record 20,338. Santiment analyzed that this trend shows large investors maintaining confidence in Bitcoin despite recent market volatility. It also predicted that continued accumulation by large investors could create a positive environment for future Bitcoin price increases.

In contrast, futures market participants and retail investors are showing selling behavior. According to CoinGap, CryptoQuant's Binance funding rate indicator turned negative, suggesting that futures market participants are taking short positions in anticipation of a Bitcoin price decline.

Bitcoin holdings on exchanges also increased. According to CoinGlass data cited by CoinGap, exchange Bitcoin holdings rose from 2.43 million BTC on the 8th (local time) to 2.45 million BTC on the 16th (local time). CoinGap reported that this change may signal that some investors are moving Bitcoin to exchanges for selling.

Short-Term Downside Risk Despite Rebound... $79,800 Liquidity Remains

Bitcoin's price rebounded quickly after falling below $80,000 on the 15th (local time). According to CoinGap, as of the 16th (local time), Bitcoin was up 2.8% on the day, showing signs of recovery.

However, CoinGap analyzed that around $79,800, liquidity remains unrecovered in this rebound process. Accordingly, it forecast that Bitcoin's price could fall again to capture liquidity at that level before a strong rally.

Technical indicators also show the short-term upward momentum is not strong. CoinGap noted that the Relative Strength Index (RSI) stands at 47, suggesting that although Bitcoin's price rebounded to $82,000, upward momentum remains weak.

Breaking the $82,580 Resistance Is Key... Up to the $83,885 PoC

Price levels to overcome for further gains were also identified. According to CoinGap's technical analysis, Bitcoin is facing resistance at the midpoint of a Fair Value Gap (FVG) located at $82,580. CoinGap predicted that if Bitcoin's price closes above this level, a strong upward move could be confirmed, with the next rally potentially extending to $83,885, where the Point of Control (PoC) line, the price level of concentrated trading volume, is located.

Ultimately, CoinGap analyzed that although Bitcoin defended the $80,000 support and rebounded, with short-term downside risk remaining, whether it breaks through the $82,580 resistance will be a key benchmark for further gains.

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