Bitcoin idles near $83,500 ahead of Wednesday's inflation report, after bitcoin ETFs' worst week since June

Bitcoin ended the weekend little changed, trading at about $83,570 at 8:54 p.m. Pacific on Sunday, up 0.9% in 24 hours, according to CoinGecko. Ether was at about $2,543, up 1.7%. Bitcoin moved between roughly $82,700 and $84,100 over the day.

The calm follows a rough week for the funds. US spot bitcoin ETFs lost about $681 million in the week to October 9, their worst week since late June and the end of a three-week run of inflows, according to SoSoValue data reported by The Block and cited by FinanceFeeds.

The next test is Wednesday. The Bureau of Labor Statistics publishes September's consumer price index at 8:30 a.m. Eastern on October 14, the last inflation report before the Federal Reserve's October 28 decision. The Fed raised its target range to 3.75% to 4.00% in September, and minutes released on October 7 showed most officials thought another increase would likely be appropriate by year-end, FinanceFeeds reported. Producer prices follow on Thursday.

Banks come first. JPMorgan, Goldman Sachs, Wells Fargo and Citigroup report on Tuesday, with Bank of America, Morgan Stanley and BlackRock, which runs the IBIT bitcoin fund, on Wednesday. On Friday, about $1.25 billion of bitcoin options expire on Deribit, according to CoinCentral.

None of this is a forecast. It is the calendar traders are watching.