Bitcoin Dips Below 2026 Open as Treasury Yields Climb

Bitcoin (BTC) fell slightly below its 2026 opening price on Monday, trading at $85,314 by 1:54 p.m. ET. The dip came as the 10-year Treasury yield rose to about 5.35%, influenced by the Institute for Supply Management's services data, which showed faster price increases for businesses in September.

Oliver Carding of Tesseract Group noted that a sustained move in the 10-year real yield above 3% could push Bitcoin toward $80,000 to $82,000, making a return to $90,000 less likely. The real yield stood at 2.92% on Friday, with the Treasury set to publish Monday's updated figure after the market close.

Despite futures traders pricing out an October rate hike, yields rose, reflecting broader pressure on risk assets due to elevated oil prices and long-dated yields. Bitcoin had climbed near $87,000 late Sunday before retreating, facing resistance at around $87,200, according to QCP Capital.

The Federal Reserve’s September meeting minutes, due Wednesday, will provide further insight into officials' stance on future rate hikes. A dovish tone could support Bitcoin’s climb toward $90,000, while a hawkish surprise might risk a drop to $83,000, according to market analysis.