Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC Summary: In a week dominated by the bond market, Bitcoin attracted much attention on the eve of ISM data and Federal Reserve minutes.
A $39 billion treasury bond auction and a 5.34% yield pushed up market attention on Wednesday.
Bitcoin opened around $85,000. Affected by bond yields, Federal Reserve minutes and ISM data, the outlook for the cryptocurrency market this week has become complex. Non-farm payrolls increased by 29,000 in September, well below the expected 90,000, while the overall unemployment rate rose to 4.2%. The yield on the 10-year U.S. Treasury note recently hit 5.34%, its highest level in about 24 years, putting pressure on risky assets. Wednesday, with the retender of $39 billion in 10-year bonds and the release of minutes of the Federal Reserve meeting, will be a key test point for the bond market's impact on cryptocurrencies this week.
Overview of key events this week
The cryptocurrency market has entered a macro data-intensive week, and government bond yields have once again become a core factor shaping the prospects of Bitcoin and other risk-sensitive assets. The schedule includes service industry data, large treasury bond auctions, minutes of Federal Reserve meetings and consumer inflation expectations. The Kobeissi Letter pointed to major events spanning six days on Monday, Wednesday and Friday, putting the bond market at the center of trading attention this week. In short, higher Treasury yields increase returns on low-risk assets and may tighten financial conditions, limiting demand for speculative assets.
- September ISM Non-Manufacturing PMI Data-Monday
- September ISM Non-Manufacturing Price Data-Monday
- 美国10年期国债拍卖 – 周三
- 美联储会议纪要 – 周三
- 10月密歇根大学消费者信心指数数据 – 周五
- 10月密歇根大学通胀预期…
—— Kobeissi Letter (@KobeissiLetter) 2026年10月4日
ISM与美联储纪要前，债券市场主导使比特币成为焦点
周一上午10:00（美东时间），首个主要催化剂是9月ISM服务业采购经理人指数（PMI）。8月该指数为55.4，而价格指数达到72.6。因此，经济学家预计9月综合读数将在55左右。关注点也将集中在价格方面，因为9月制造业价格从71.1跃升至77.9。如果服务业读数强劲且价格居高不下，通胀压力将继续受到关注。这种组合可能会推高国债收益率和美元，从而给加密货币市场带来压力。
反之，如果经济活动疲软且价格压力减弱，则会强化美联储在9月加息后暂停加息的预期。此前的就业报告已经降低了对立即再次加息的预期。
390亿美元国债拍卖与5.34%收益率推高周三市场 stakes
Wednesday focused on the biggest bond-related events of the week, starting with the Treasury's planned re-tender of 10-year bonds. Officials had previously outlined an October auction of $39 billion, keeping demand for government debt in the spotlight. At the same time, the 10-year Treasury yield recently reached 5.34%, the highest level in about 24 years.
The rise in yields has affected Bitcoin's short-term performance. Earlier last week, Bitcoin briefly exceeded $85,500, but gave up gains as the 10-year yield remained near 5.3%. Later on Wednesday, the Federal Reserve minutes will provide more details on how officials viewed the September policy decision. Policymakers unanimously agreed to raise interest rates by 25 basis points, raising interest rates to a range of 3.75%-4.00%.
Market attention will then turn to Friday, when the University of Michigan's preliminary consumer confidence index and inflation expectations data for October will be released. Confidence fell to 48.1 in September, while one-year inflation expectations climbed to 4.6%. At the same time, the five-year forecast also increased to 3.4%. The data will provide another yardstick for assessing whether inflationary pressures remain entrenched when markets review the Fed's next move.
As a result, Friday's data will end a week dominated by interest rates and government bond yields. For the cryptocurrency market, the key question remains whether bond yields will fall back from recent highs or remain high. As a result, macroeconomic data and interest rate expectations may be more influential this week than the catalysts unique to cryptocurrencies.
