Bitcoin trades around $84,000 after profit booking as rising US Treasury yields pressure crypto markets
Profit-taking and higher Treasury yields pushed Bitcoin lower as spot Bitcoin ETFs still drew $2.39 billion in net inflows over five sessions, Farside Investors said.
- Bitcoin retreated toward $83,000 on Monday after failing to sustain highs above $87,000 last week, as rising U.S. Treasury yields and elevated oil prices pressured risk assets.
- Macroeconomic pressure intensified following the Federal Reserve's September 16 rate hike to 3.75%–4.00% and the U.S. Senate's September 15 rejection of the Digital Asset Market CLARITY Act.
- Sustained institutional demand provided a counterpoint, with U.S. spot Bitcoin ETFs recording $2.39 billion in net inflows during the September 21–25 week and large entities accumulating 113,950 BTC since July 15.
- Market leverage flushed as Bitcoin tested the $83,000 support level, with trading volume elevated while derivatives traders assessed the impact of rising bond yields on stability.
- Traders now monitor the September 30 personal consumption expenditures index and October 2 nonfarm payrolls to determine if Bitcoin reclaims the mid-$80,000s or faces further downside pressure.
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Bitcoin, having surpassed $84,000 following a recent surge, is continuing to consolidate with a slight decline. According to CoinMarketCap, a virtual asset market data platform, on the 28th, the price of Bitcoin recorded $84,402, down 0.03% from the previous day. Ethereum, the second-largest by market capitalization, is trading at $2,686, down 0.27%, while XRP is trading at $1.51, down 0.92%. In the market, the recent short-term surge
The bitcoin falls on Friday (25), at $83,000, but it came to be negotiated above $84,000 this morning. The movement even occurs with a pause in the high interest rate on American bonds and a new fall in oil, reducing part of the pressure that hit the risk assets in the last few days. At around 11:00, the bitcoin fell 0.2%, to $83,854.36, with the most consolidated downward movement in the last hour, according to CoinGecko. In Brazil, the cryptoc…
The Economic Times
Times of IndiaBitcoin trades around $84,000 after profit booking as rising US Treasury yields pressure crypto markets
Bitcoin traded near $84,000 following profit-booking from recent highs as surging US Treasury yields pressured risk assets. Despite intraday volatility and $80 million in long liquidations, consistent ETF inflows, whale accumulation, and key support levels suggest underlying demand for BTC remains firm amid ongoing macroeconomic headwinds.
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