Bitcoin (BTC) hovered around $86,000 after Monday’s Wall Street open as U.S. bond yields continued to rise.
Key points:
- Bitcoin declined near the weekly close of $86,570 after the start of the US trading session.
- US bond yields stage a rebound Bitcoin price action continues with smaller moves, with the 2026 annual opening at $87,570 lingering overhead as key psychological resistance. A new 24-year high was eyed after Friday’s decline.
- Glassnode analysis reports less “aggressive upward momentum” visible in onchain data in recent days.
Bitcoin is indecisive as US bond yields return higher
Data from TradingView shows that BTC/USD is struggling to break above the weekly opening level of $86,500 after its highest weekly close since late January.
BTC/USD hourly chart. Source: Cointelegraph/TradingView
US bond yields, already under scrutiny, edged higher on the day. The 30-year yield again crossed 5.67%, just two basis points below the 24-year high seen last week. The 10-year yield is back at 5.31%, off last week’s high of 5.34%.
Hourly chart of US 30-year bond yields. Source: Cointelegraph/TradingView
Commenting, trading company QCP Capital also reiterated this The latest cool US employment data That was not enough to calm bond markets as broader geopolitical uncertainty persisted.
“Despite the dovish employment impression, higher oil prices and higher long-dated yields continue to limit upside momentum for risk assets broadly,” it said. wrote In his latest analysis.
U.S. stocks opened moderately higher on Monday, with the S&P 500 and the tech-heavy Nasdaq Composite index up 0.5% and 0.7%, respectively, as traders watched the Federal Reserve Stopping interest rate hikes At the next Federal Open Market Committee (FOMC) meeting on October 28.
S&P 500 One Day Chart Source: Cointelegraph/TradingView
on a note quoted By CNBC, Deutsche Bank analysts suggested that the minutes of the September FOMC meeting, to be released on Wednesday, will carry more weight than usual due to bond selling.
“Extremely volatile bond markets make incoming US data and Fed communications particularly relevant. So for how the broader committee is shaping the current tightening cycle and neutral rate talks, where estimates for the September SEP have moved higher,” they wrote, referring to the Fed’s most recent report. Summary of Economic Assumptions.
BTC price “aggressive upward momentum” fades
Bitcoin price action continues with short moves, with the 2026 annual opening at $87,570 overhead prolonged as key psychological resistance.
Related: Bitcoin ETFs undercut Ether ETFs by $138M in third week of inflows
Compared to mid-September, when BTC/USD returned to $87,000 for the first time in eight months, onchain analytics platform Glassnode eased buyer dominance.
“This behavior reflects a moderation in aggressive upward momentum without signaling an immediate trend change or structural fatigue,” it wrote in its latest Weekly market pulse monday
Glassnode added that bitcoin has held its September highs even as profit-taking continues to be “hot.” previously, Cointelegraph reported Of particular interest is the area over $85,000 in BTC owned by long-term holders (LTHs).
