Bitcoin Price Stalls Near $86,000 Following Best Weekly Close in Eight Months

Bitcoin fails to move higher after strong weekly finish

Bitcoin (BTC) reached its highest weekly close in eight months on Sunday, but the price struggled to maintain its momentum as the US trading session opened on Monday, October 5. Bitcoin, a decentralized digital currency, fluctuated around the $86,000 mark after meeting resistance near its recent peak.

Despite the strong performance over the weekend, the price was unable to break through key levels. Market activity remained indecisive as broader economic factors influenced investor behavior.

Key market figures

• The weekly close for Bitcoin was recorded at $86,570.
• Psychological resistance remains at the 2026 yearly open of $87,570.
• The US 30-year bond yield rose to 5.67%, near its 24-year high.
• The US 10-year bond yield returned to 5.31%.

Rising bond yields pressure risk assets

US bond yields, which represent the interest rates paid on government debt, moved higher on Monday. Rising yields often put pressure on riskier assets like crypto because they offer higher returns for safer investments.

Trading firm QCP Capital noted that even though recent employment data was lower than expected, geopolitical uncertainty and high oil prices are limiting the growth of risk assets. While US stock markets like the S&P 500 and Nasdaq opened slightly higher, the unsettled bond market continues to be a major focus for traders.

Buyer momentum begins to fade

Onchain data, which is information recorded directly on a blockchain (a shared digital ledger), suggests that the aggressive buying seen in mid-September is slowing down. Analysis from Glassnode indicated that while Bitcoin has held onto most of its recent gains, the dominance of buyers has moderated.

The report also mentioned that profit-taking remains high. Long-term holders of Bitcoin are particularly active in the price range above $85,000, though experts say there are currently no signs of a total trend reversal.

Focus turns to Federal Reserve minutes

Traders are looking for more information on the future of interest rates. The minutes from the September meeting of the Federal Open Market Committee (FOMC), the group that manages US monetary policy, are scheduled for release on Wednesday.

Analysts from Deutsche Bank suggested these minutes will be more important than usual because of the recent volatility in the bond market. Many investors believe the Federal Reserve may pause interest rate hikes at its next meeting on October 28.

Sources

• Cointelegraph