Bitcoin Holds Near $84K Amid Macro Pressures and Geopolitical Tension
Bitcoin's price remained steady near $84,000 on Friday after experiencing intraday volatility that resulted in $67 million in liquidations. The cryptocurrency had traded primarily between $84,000 and $85,000 before dipping to just above $83,800 shortly after 3 a.m. EST.
A relief rally then pushed it to an intraday high of $85,238, but sentiment flipped immediately as bitcoin fell to $83,229 at approximately 10:05 a.m. EST. A subsequent relief rally carried the cryptocurrency to just under $84,000 before it gave up ground, slipping under $83,500.
According to Andrew Melville, head of research at Block Scholes, rising U.S. government bond yields and higher oil prices are creating strong macroeconomic pressure on the crypto market. He noted that risk assets have remained resilient, citing bitcoin's rally past $87,000 earlier in the week and U.S. equities trading near record highs.
Despite these pressures, Melville pointed to spot ETF inflows and Strategy making its first bitcoin purchase in nearly a month as setting up potential market resilience heading into Q4 2026.