Bitcoin Price Fluctuates Near $86,500 as US Bond Yields Rise
- Bitcoin fluctuated around $86,000 following the Wall Street opening, held back by rising US bond yields and a moderation in aggressive buying momentum.
- United States bond yields resumed their upward trajectory after declining on Friday, placing fresh pressure on broader risk assets.
- Trading firm QCP Capital noted that recent cooler US employment data failed to calm bond markets amid ongoing geopolitical uncertainty.
Bitcoin fluctuated around $86,000 following the Wall Street opening, held back by rising US bond yields and a moderation in aggressive buying momentum. TradingView reported that BTC traded near its weekly open level of $86,500 after achieving its highest weekly close since late January.
US Bond Yields Surge Toward Multi-Decade Highs
United States bond yields resumed their upward trajectory after declining on Friday, placing fresh pressure on broader risk assets. The 30-year Treasury yield surpassed 5.67%, sitting just two basis points below the 24-year highs reached the previous week. Meanwhile, the 10-year yield climbed back to 5.31%, approaching the 5.34% high recorded last week.
Trading firm QCP Capital noted that recent cooler US employment data failed to calm bond markets amid ongoing geopolitical uncertainty.
Despite the dovish employment print, elevated oil prices and elevated long-dated yields continue to limit upside momentum for risk assets broadly
QCP Capital
Equities Open Higher as Fed Rate Hike Pause Anticipated
Analysts at Deutsche Bank emphasized that the minutes from the September FOMC meeting, set for release on Wednesday, carry unusual significance due to the ongoing bond market sell-off.
The highly unsettled bond market makes the incoming US data and Fed communication particularly relevant. So the minutes will be worth watching for how the broader Committee is framing the current tightening cycle and for its discussion of the neutral rate, where estimates shifted higher in the September SEP
Deutsche Bank
Onchain Analysis Shows Fading Upward Momentum for Bitcoin
Bitcoin price action remained subdued as the 2026 yearly open at $87,570 loomed overhead as a key psychological resistance level. Onchain analytics platform Glassnode highlighted a measurable decline in buyer dominance compared to mid-September, when BTC returned to $87,000 for the first time in eight months.
This behavior reflects a moderation in aggressive upward momentum without signalling an immediate trend reversal or structural exhaustion
Glassnode
Glassnode added that Bitcoin has successfully maintained its September gains even as profit-taking activity continues to run hot. Previously, Cointelegraph reported on BTC owned by long-term holders (LTHs) being of particular interest in the area beyond $85,000.
Federal Reserve Policy Meeting Minutes Scheduled for Release
Financial markets await the publication of the Federal Open Market Committee meeting minutes on Wednesday. The release will provide deeper insight into how central bank officials view the current tightening cycle and evaluate the neutral interest rate following shifts in the September summary of economic projections.