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Bitcoin trades around $84,000 after profit booking as rising US Treasury yields pressure crypto markets
Bitcoin’s retreat follows slower ETF buying as traders weigh higher U.S. yields and profit-taking after a sharp rally.
On Monday, Bitcoin fell to about $83,000, retreating from a weekly high near $87,000 as rising U.S. Treasury yields and oil market volatility pressured risk assets.
Rising U.S. Treasury yields reached their highest level since 2007, while renewed U.S.-Iran geopolitical tensions pressured Bitcoin and reversed the early September rally.
During the September 21-25 trading week, U.S. spot Bitcoin ETFs recorded $2.39 billion in net inflows, though daily demand eased significantly from the $999 million peak on September 21.
Large-Wallet entities accumulated roughly 30,269 Bitcoin as price consolidated near $84,000, suggesting institutional confidence despite broader macroeconomic pressure.
Traders monitor the August personal consumption expenditures report and September nonfarm payrolls to determine if Bitcoin reclaims the mid-$80,000s or if yields keep risk assets on the backfoot.