Bond Market Releases Could Shake Crypto as Bitcoin Hovers Near $85,500
This week's financial spotlight falls on the US bond market, with a series of key releases that could ripple through global markets, including cryptocurrency. The events, highlighted by The Kobeissi Letter, span from Monday to Friday, October 5, 2026, and include critical indicators like the ISM Services PMI, 10-year Treasury note auction, and Fed meeting minutes.
The ISM Services PMI, set for release on Monday, gauges the growth of the services sector. In August, it registered 55.4, indicating expansion. Meanwhile, the ISM Services Prices Index, also due Monday, could signal ongoing price pressure, with August's reading at 72.6 and September's manufacturing report showing a rise to 77.9.
Wednesday's 10-year Treasury note auction will test demand for US debt, with Treasury yields currently at 5.24% as of October 1, up from 5.17% on September 25. Soft demand could push yields higher, impacting risk assets like Bitcoin. The same day, the Fed's September meeting minutes will be released, offering insights into future rate adjustments.
On Friday, the University of Michigan's preliminary October consumer sentiment reading and inflation expectations will be released. September's final reading showed sentiment at 48.1, with year-ahead inflation expectations at 4.6%, the highest since June. These figures could influence the Fed's rate path.
As of October 5, 2026, Bitcoin is trading at $85,462, with a 24-hour change of +0.67%. Analysts note that bond yields and crypto markets are closely linked, as higher yields may draw investors toward safer assets, potentially weighing on risk assets like Bitcoin. The week's events could shift Fed expectations, with any price impact remaining uncertain.