Bitcoin Holds Above $84K as Treasury Yields Retreat from Multiyear Highs

Bitcoin traded above $84,000 around the US market open on October 1 as Treasury yields retreated from multiyear highs. The cryptocurrency's price movement was closely tied to the decline in Treasury yields, which have been increasing steadily.

The 10-year yield reached a new high of 5.342% before easing back to 5.251%, while the 30-year yield also set a new high, though no specific level was provided. Order-book liquidity was concentrated near $84,500 and $82,900.

Rekt Capital pointed out that around $82,500 is a potential support retest for Bitcoin. A successful retest could potentially set up the next trend continuation, but Rekt warned that it 'could get messy' and urged traders to take it one level at a time.