Bitcoin’s $85,000 test comes as Wall Street gets two different inflation stories

Bitcoin hit an intraday low of $82,563 on Sept. 28, just below a concentration of long-term holders' purchase prices that Glassnode identified last week.Three US data releases now threaten to send different signals about the inflation and labor outlook that drives interest-rate expectations. On Sept. 30, the personal income and outlays report will measure August. The Oct. 1 ISM manufacturing survey covers September, followed by the Oct. 2 September employment report.A reassuring consumer inflation reading could arrive a day before a less comfortable snapshot of factory input costs. They measure different things, but traders may have to revise their view of the Fed as each lands.Glassnode's Sept. 23 analysis mapped a large cluster of long-term holder supply at $84,000 to $85,000. That area marks where many longer-term holders acquired coins, making Bitcoin's ability to reclaim it a measurable response to the week's news.Glassnode also identified a deeper True Market Mean reference near $77,000 and an overhead mean MVRV reference near $96,700.Glassnode's Sept. 21 Market Pulse showed net spot taker buying, rising volume and elevated futures leverage, alongside weekly ETF outflows. Fre...