Tom Lee and iTrustCapital CEO Say the Worst Is Over: Can Bitcoin Hold $86,000?

BTCUSD: cautiously bullish, but not confirmed. The rebound and Maloney’s report that clients are redeploying some idle cash suggest improving risk appetite and potential spot demand. But the $350 million figure refers to cash held by the platform, not a confirmed amount flowing into Bitcoin, and the $85,000 weekly close is a level to watch—not proof that the downturn has ended.

The macro backdrop remains a counterweight: the Fed has raised rates, most officials project another hike this year, and Bitcoin ETFs recorded substantial outflows. Higher rates can weigh on liquidity and demand for risk assets, while the failed CLARITY Act leaves regulatory uncertainty unresolved.

For traders, the near-term read is mixed: holding above $85,000 on a weekly close would lend support to the recovery narrative; failure to hold it, renewed ETF outflows, or inflation data that reinforces a hawkish Fed outlook would weaken it. The September 30 revised inflation figures are the key catalyst cited in the article.