October 13th 2026, 12:00 PM
Bitcoin Price Bounce Fades as Doubts Cast Over Bull Run
Key Summary
Bitcoin's recent price bounce to $83.3K has been overshadowed by two factors casting doubt on its bull run: the decline of the iShares TIPS Bond ETF and the profitability of older mining rigs. Despite a 2.9% price increase, market analysis suggests that net selling has been predominant throughout October, and the Bitcoin mining scene is favoring newer, faster, and more economical mining rigs.
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Recent Price Bounce and Market Analysis
Bitcoin's price has bounced back to $83.3K after dipping to $81k on Monday, October 12. However, market analysis suggests that this bounce is not a strong indication of a bull run.Decline of the iShares TIPS Bond ETF
The iShares TIPS Bond ETF has been declining in recent months, and its bearish direction change has been followed by a Bitcoin downtrend. Historical correlation does not guarantee future price moves, but it was a warning that Bitcoin might be poised for another bearish price leg.Strain on Profitability of Older Mining Rigs
The Bitcoin mining scene has always favored newer, faster, and more economical mining rigs. Comparing the electricity production costs, crypto analyst Axel Adler Jr. highlighted the stark difference between the Bitmain Antminer S19 and the S21 for mining Bitcoin. A decline in Bitcoin prices could further strain the profitability of old models.Conclusion
Despite the recent price bounce, the two factors mentioned above cast doubt on Bitcoin's bull run. Market participants should approach the market with caution and be aware of the potential risks.References
Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories.Author Bio
Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto.About AMBCrypto
AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers.#Bitcoin#US#Crypto#SEC