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BTC Bitcoin fluctuates around $86,000, and U.S. bond yields continue to climb
After U.S. stocks opened on Monday, Bitcoin (BTC) prices fluctuated around $86,000, while U.S. bond yields continued to rise. The key points are as follows:
- After the U.S. trading session began, Bitcoin encountered a rejection near the weekly closing price of US$86,570.
- U.S. bond yields rebounded after Friday's decline, trying to hit a 24-year high.
- Bitcoin prices continue to fluctuate slightly, with the annual opening price of US$87,570 in 2026 constituting a key psychological resistance level.
- Glassnode's analysis pointed out that the "strong upward momentum" shown in recent chain data has weakened.
U.S. bond yields rebound, Bitcoin is hesitant
TradingView data shows that after setting its highest weekly closing price since the end of January, BTC/USD is difficult to break through the US$86,500 mark near the weekly opening price. 
One-hour chart of BTC/USD. Source: Cointelegraph/TradingView
The already closely watched U.S. Treasury yields rose further on the day. The yield on the 30-year U.S. bond once again exceeded 5.67%, only two basis points below the 24-year high set last week. The yield on the 10-year U.S. bond returned to 5.31%, after last week's high of 5.34%. 
One-hour chart of U.S. 30-year Treasury yields. Source: Cointelegraph/TradingView
Trading firm QCP Capital commented that although recent U.S. employment data was slightly weak, broader geopolitical uncertainty still exists, which is not enough to reassure bond markets. "Despite the dovish signal in employment data, high oil prices and long-term yields continue to limit the overall upside of risky assets," it wrote in its latest analysis.
U.S. stocks opened moderately higher on Monday, with the S & P 500 index and the Nasdaq Composite Index, which has a heavy weight for technology stocks, rising 0.5% and 0.7% respectively. Investors expect the Federal Reserve to suspend interest rate hikes at the Federal Open Market Committee (FOMC) meeting on October 28. 
Daily chart of the S & P 500 Index. Source: Cointelegraph/TradingView
According to a report quoted by CNBC, Deutsche Bank analysts suggested that due to the sell-off in the bond market, the September FOMC meeting minutes to be released on Wednesday will be more important than ever. "The highly volatile bond market makes upcoming U.S. data and Fed communications particularly relevant. Therefore, it is worth paying close attention to how the minutes describe the current tightening cycle and the discussion of neutral interest rates, which were previously raised in the September Economic Forecast Summary (SEP)." They wrote that this refers to a summary of the Federal Reserve's latest economic forecasts.
Bitcoin's "strong upward momentum" recedes
Bitcoin prices continue to fluctuate at a smaller margin, with the annual opening price of US$87,570 in 2026 hanging above as a key psychological resistance.
Compared with mid-September, when BTC/USD returned to US$87,000 for the first time. Eight months later, online data analysis platform Glassnode pointed out that buyer dominance declined. "This behavior reflects the easing of strong upward momentum, but does not signal an immediate reversal of trend or structural failure," it wrote in Monday's latest "Weekly Market Pulse" report.
Glassnode added that although profit-taking activity remains "hot", Bitcoin has maintained its upward trend in September. Previously, Cointelegraph reported that BTC held by long-term holders (LTHs) received special attention in areas above $85,000.
