Bitcoin Hovers at $84K as Treasury Yields Hold Near Multi-Year Highs
Bitcoin is holding around $84,000, up slightly on the day but down on the week, after about two weeks of sideways trading. The main drag is macro pressure from higher oil, rising Treasury yields, and a stronger dollar, which have also weighed on gold and other non-yielding assets. Analysts say Bitcoin’s price action looks like consolidation, but upside may stay limited while energy risk persists. Institutional demand is helping support the market: spot Bitcoin ETFs have taken in money for eight straight sessions, totaling roughly $3 billion, and now hold about $107.8 billion in assets. Options traders are showing a cautious balance between downside hedging and bullish positioning. Strategy also added 1,665 BTC, lifting its holdings to 847,666 BTC. Attention now shifts to U.S. data, especially core PCE, GDP, and Friday’s jobs report, which will shape expectations for the Fed’s October meeting. Futures markets now see another quarter-point hike as increasingly likely.
