Bitcoin gives back gains as long-term holder supply keeps $85K out of reach
Summary
Bitcoin pulled back after briefly rallying toward $84,540, slipping below its daily open near $83,600 as US bond yields surged to multidecade highs. The 30-year Treasury yield rose above 5.60% and the 10-year yield reached 5.26%, intensifying pressure across risk assets and even weighing on gold. Geopolitical tensions, high oil prices, and inflation concerns kept markets cautious. In Bitcoin’s order books, resistance thickened around $85,000, while onchain data showed a large concentration of long-term holder supply in the $84,000–$85,000 range, increasing the chance of profit-taking. A sustained break above that zone is needed for the rally to continue.
