Institutional Buying Can't Save Bitcoin as Yields Rise

Bitcoin's price has declined below $82,800 as the rally nears its end. Despite strong institutional demand supported by spot Bitcoin Exchange Traded Fund (ETF) inflows, elevated US Treasury yields and Federal Reserve tightening expectations may weigh on the cryptocurrency.

The Pi Network's price has stalled below $0.090 after a 6% gain last week. The team plans to release Protocol 28 upgrade on October 16, which focuses on improving transaction data handling and smart contract maintenance. To continue its recovery, the Pi Network must reclaim the 50-day Exponential Moving Average (EMA) at around $0.091.

Cryptocurrency prices are moderating across the board, with Bitcoin hovering below $83,000. Ethereum and Ripple have also declined, as sellers return and push prices down to $2,650 and $1.50 respectively.