Bitcoin price struggles to advance amid rising bond yields
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Written by
Simonas Brazionis - Updated 2026-10-05 18:36:17
Bitcoin's price hovered around $86,000 following Monday's Wall Street open, encountering resistance near its weekly close of $86,570. This movement coincided with a continued ascent in US bond yields, which approached new 24-year highs.
Despite a moderate rise in US stocks, with the S&P 500 and Nasdaq Composite Index increasing, the bond market remained unsettled. Traders are now anticipating potential interest-rate pauses from the Federal Reserve, with upcoming FOMC minutes expected to provide crucial insights.
Bond Market Dynamics and Geopolitical Impact
US bond yields rebounded significantly, nearing their 24-year peaks after a brief decline on Friday. The 30-year yield reached 5.67%, just shy of its record, while the 10-year yield hit 5.31%.
QCP Capital noted that even cooler US employment data failed to calm bond markets, attributing this to persistent geopolitical uncertainty and elevated oil prices. These factors continue to limit upward momentum for risk assets, influencing broader market sentiment.
Bitcoin's Price Action and Market Sentiment
Bitcoin‘s price action showed limited movement, with the 2026 yearly open at $87,570 acting as a key psychological resistance. Onchain analytics platform Glassnode reported a decrease in buyer dominance compared to mid-September, when BTC/USD last reached $87,000.
Glassnode's latest Weekly Market Pulse indicated a moderation in aggressive upward momentum, but did not signal an immediate trend reversal or structural exhaustion. The platform also observed that Bitcoin has maintained its September gains despite ongoing profit-taking from long-term holders at levels above $85,000.
