Bitcoin Stalls Near $86,000 as Treasury Yields Rise
Bitcoin saw limited movement around the $86,000 mark on Monday after Wall Street opened, following a strong weekly performance. The cryptocurrency failed to sustain its momentum from the previous week, which had seen its highest weekly close since late January. Resistance near the $86,500 level and rising US Treasury yields contributed to the stalling. Despite this, Bitcoin managed to hold onto gains made in September.
Trading data from Cointelegraph/TradingView showed Bitcoin struggling to reclaim its weekly open near $86,500, with Monday’s session marked by smaller price swings and a rejection around $86,570. The focus shifted back to macroeconomic factors, particularly long-dated Treasury yields, which rebounded. The 30-year yield moved back above 5.67%, close to the 24-year highs reached last week, while the 10-year yield neared 5.31%.
QCP Capital noted that even softer employment data did not stabilize bond markets due to elevated oil prices and geopolitical uncertainty. This broader context limited the upside momentum for risk assets like Bitcoin. Meanwhile, US equities opened higher, with the S&P 500 and Nasdaq Composite showing moderate gains, reflecting cautious optimism. Traders are watching for signals from the Federal Reserve, particularly ahead of the October FOMC meeting.
On-chain analysis from Glassnode indicated a reduction in aggressive upward momentum, suggesting a moderation rather than a reversal. Bitcoin has held its September gains despite ongoing profit-taking. The 2026 yearly open near $87,570 remains a key resistance level that could influence Bitcoin’s next move.