Bitcoin Tests $83K Support Amid Quarterly Options Expiry and Rising Yields

Bitcoin's price has been testing support levels around $83,000 as it navigates a complex market landscape. The cryptocurrency fell to $83,450 on September 25 after a rally above $87,000 earlier in the week.

The decline was attributed to a large quarterly options expiry and higher U.S. Treasury yields. Dan Khus, chief analyst at LVRG Research, stated that Bitcoin is maintaining support despite the Treasury sell-off easing slightly.

Trader Ardi identified $83,000 as local range support and warned that a loss of this level could put $81,000 back in view. Conversely, reclaiming $85,200 as support could open another test of the $87,000 highs.