Bitcoin Holds Ground at US$83,000 Amid Elevated Bond Yields
Bitcoin is holding steady above US$83,000 as October begins, despite persistent institutional buying and elevated US bond yields limiting its upward momentum. The world's largest digital asset traded between roughly US$82,950 and US$85,500 over the latest session, with a recent high of around US$83,400.
The cryptocurrency briefly pushed above US$85,000 following softer-than-expected US inflation data but was unable to sustain the advance. This comes as bond yields remain a headwind for cryptocurrencies, with the US 10-year Treasury yield hovering around 5.3%, close to levels not seen since before the global financial crisis.
Despite this, Bitcoin finished the September quarter with a gain of around 45%, its strongest quarterly performance since 2024. However, ETF buying continues, with roughly US$3.1 billion flowing into US spot Bitcoin exchange-traded funds across nine consecutive positive sessions.