Autor Cointelegraph By William Suberg

Bitcoin (BTC) pushed above $84,000 around Thursday’s Wall Street open as US bond yields retreated after setting more multidecade highs.Key points:BTC price action seeks to cement higher lows around the first October US trading session, with $84,000 in focus.US bond yields fall at the Wall Street open after the 10-year yield hit its highest levels since April 2002 at 5.342%.Bitcoin is due a “messy” retest of $82,500, says analyst by Rekt Capital.US bond yields head lower after fresh macro highsData from TradingView showed BTC/USD preserving a pattern of higher lows on hourly time frames, up 0.6% on the day.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewBoth the US 30-year and 10-year yields set new macro highs, with the latter reaching 5.342% — a level last seen in April 2002 — before dropping to 5.251% at the time of writing.US 10-year bond yield one-hour chart. Source: Cointelegraph/TradingViewDiscussing the forces behind the ongoing bond-market sell-off, Mahmood Pradhan, former deputy director of the European department at the International Monetary Fund, told the New York Times that markets worldwide were “very nervous” about mounting public debt, with rising yields increasing governments’ interest costs.“The Middle East war has really turned everything around,” he said, with higher oil prices already showing up in inflation data.As Cointelegraph reported, the August reading of the US Personal Consumption Expenditures (PCE) index, the Federal Reserve’s preferred inflation gauge, came in below expectations at 3.4% year on year. Markets showed little reaction to the softer reading, however, with analysts attributing much of the decline to a change in how PCE was calculated.“Yields have gone up rapidly since the market became concerned that the Fed was no longer taking inflation seriously.” crypto analyst Benjamin Cowen told X followers, adding:“Well the bond market has revolted, and until the Fed gets a proper handle on inflation, this will likely continue.”Analysis: Bitcoin support retest “could get messy”Bitcoin traded between thickening liquidity on exchange order books above and below the spot price. Data from CoinGlass showed $84,500 and $82,900 as key areas of interest at the time of writing, with both potentially acting as a magnet for price.Liquidations over the past 24 hours totaled $25 million as nearby long and short positions helped preserve rangebound conditions.BTC liquidation heatmap. Source: CoinGlassRelated: Altcoin exchange deposit count jumps 160% in 2 weeksAssessing the current market setup, trader and analyst Rekt Capital forecast a fresh dip to key support at around $82,500.“A successful retest there could set up the next trend continuation. History suggests this retest could get messy but let’s take it one level at a time and not look too far ahead,” he wrote on X.Previously, Rekt Capital said bulls’ ability to hold $82,500 as support would decide Bitcoin’s broader rebound.BTC/USD one-month chart. Source: Rekt Capital on X.com

Bitcoin (BTC) held above $83,000 on Thursday after giving back gains following lower-than-expected US inflation data.Key points:Bitcoin remained rangebound after its latest rally stalled at $85,600.US PCE inflation data came in lower than expected at 3.4% year-on-year, but methodology changes complicated the reading.BTC-denominated open interest fell almost 20% while its price rose 35% from its August low.Bitcoin gives back gains after PCE releaseData from Coinbase showed BTC/USD flat on the day after a brief bout of volatility ahead of September’s monthly and third-quarter close.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewBitcoin began Q4, historically its strongest quarter, at around $83,550, after posting third-quarter gains of 42.7%, according to data from CoinGlass — its best Q3 performance since 2017.BTC/USD quarterly returns (screenshot). Source: CoinGlassCoinGlass’s liquidation heatmap showed potential liquidation clusters above and below Bitcoin’s market price.On Thursday, a new $60 million cluster of estimated liquidation exposure appeared near $83,000, close to key support at $82,500 — a level that analysis marked as critical for Bitcoin’s broader rebound from June lows.BTC liquidation heatmap. Source: CoinGlassBitcoin’s latest rally stalled Wednesday, with BTC/USD reversing at $85,600. The advance followed a lower-than-expected US inflation reading. The Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, came in at 3.4% year-on-year in August, versus expectations of 3.7%.“Excluding food and energy, the PCE price index increased 3.0 percent from one year ago,” an official release from the Bureau of Economic Analysis (BEA) stated, referring to core PCE.US PCE index. Source: BEAThe release also incorporated methodology changes affecting portfolio management and investment advice, computer software and accessories, and legal services. “We estimate the methodology alone could reduce Core PCE inflation by up to 20 basis points,” market commentary publication The Kobeissi Letter wrote on X, noting that July headline and core PCE inflation had also been revised downward by 30 basis points.Kobeissi forecast that markets would “heavily discount” the August reading. The S&P 500 closed Wednesday down 0.25% at 7,651 points, while the Dow Jones Industrial Average shed 0.86%.Data from CME FedWatch Tool showed that markets put the probability of a quarter-percentage-point rate increase at the Fed’s October meeting at around 37% on Wednesday, little changed on the day. Unlike last week, markets favored keeping the federal funds target range unchanged at 3.75%–4%.Fed target-rate probability comparison for October FOMC meeting (screenshot). Source: CME GroupOpen interest falls to lowest since March despite Bitcoin gainsFalling futures open interest could make Bitcoin’s rally less vulnerable to forced liquidations, according to onchain analytics platform Glassnode.Related: Altcoin exchange deposit count jumps 160% in 2 weeksGlassnode highlighted a divergence between Bitcoin’s price and BTC-denominated open interest (OI), which measures outstanding futures positions in Bitcoin terms.“Price is up 35% from the August low, while coin-denominated open interest is down almost 20%,” it wrote on X. “That puts open interest at its lowest since March, potentially making the rally less susceptible to leverage flushes.”Bitcoin coin-denominated OI vs. BTC/USD. Source: Glassnode on X.comAs Cointelegraph reported, sell orders around $85,000 and long-term holder coins clustered in the $84,000–$85,000 range could reinforce resistance above the current price. 

Altcoin exchange deposits have reached their highest transaction count since October 2025, according to CryptoQuant, which warned that holders may be preparing to sell.Key points:Altcoin exchange deposits reached a seven-day total of 78,000 transactions on Sept. 28, marking their highest count since October 2025.The number of addresses sending altcoins to exchanges reached around 51,600, also its highest tally in nearly a year.Bitcoin’s share of total crypto market capitalization stayed in a range it entered in late May.Altcoin exchange inflows hit highest levels since October 2025In its latest weekly report released on Tuesday, onchain analytics platform CryptoQuant flagged a surge in exchange deposits involving altcoins.The seven-day count of altcoin deposit transactions on exchanges tracked by the platform reached 78,000 on Sept. 28. That was up about 160% from around 29,800 on Sept. 14.“Altcoin exchange inflows have exploded to their highest levels since Bitcoin’s last all-time high,” CryptoQuant noted.Altcoin exchange inflow transactions. Source: CryptoQuantBetween Sept. 14 and Sept. 28, the number of addresses depositing altcoins to exchanges almost tripled from around 17,600 to 51,600.CryptoQuant said the address count also reached its highest level since October 2025. It described the increase in exchange inflows as broad-based.“When holders move coins to exchanges, they usually intend to sell,” it added.Altcoin exchange inflow address count. Source: CryptoQuantBitcoin (BTC) has pulled back since briefly topping $87,000 last week for the first time since January. As Cointelegraph reported, shifts in exchange order-book liquidity, as well as long-term holder supply, have been cited as potential obstacles to further short-term gains.Smaller altcoins’ market share hits highest level since FebruaryThe increase in exchange deposits follows recent signs of altcoin outperformance against Bitcoin.Last week, Glassnode’s dedicated Altcoin Cycle Signal metric favored altcoins over Bitcoin. The metric uses price data for the 250 largest altcoins by market capitalization, excluding stablecoins.Related: BTC price eyes best Q3 in nine years: Three things to know in Bitcoin this weekBitcoin’s share of total crypto market cap, meanwhile, stood below 60%. Since May 27, Bitcoin dominance has stayed between 58% and 60.4%, according to data from TradingView.BTC crypto market-cap dominance one-day chart. Source: Cointelegraph/TradingViewCrypto assets outside the top 10 by market cap accounted for 9% of the total on Sept. 27, their highest share since February.Altcoin crypto market-cap dominance (excluding top ten). Source: Cointelegraph/TradingView

Bitcoin (BTC) reversed its latest gains after Tuesday’s Wall Street open as US bond yields continued to set multidecade highs.Key points:Bitcoin abandoned a low-time frame rebound after reaching $84,450, dipping back below $83,000.US bond yields set new multidecade highs on Tuesday as gold sought to recover from a 3.6% drop to $4,115 per ounce.Ask liquidity continued to cement itself above the spot price around $85,000 on exchange order books.Bitcoin rejects near $85,000 as bond-yield rally continuesData from TradingView showed a local rally to $84,540 stalling as the US trading session began, with BTC/USD retreating below its daily opening level near $83,600.BTC/USD one-hour chart. Source: Cointelegraph/TradingViewUS bond markets showed no sign of cooling on the day, with the 30-year yield reaching new 24-year highs above 5.60% and the 10-year yield hitting 5.26%, on the cusp of passing its June 2007 high to levels last seen in April 2002.US 10-year bond yield one-month chart. Source: Cointelegraph/TradingViewGeopolitical uncertainty surrounding the US-Iran war, high oil prices and persistent inflation kept investors cautious, while surging bond yields also sent precious metals lower. Gold fell 3.6% on Monday to $4,115 per ounce before rebounding to $4,166 at the time of writing.Market commentator The Kobeissi Letter described gold’s move as “highly unusual.”“The surge in yields is creating an extraordinary disruption across the precious metals market,” it wrote in a post on X.XAU/USD one-day chart. Source: Cointelegraph/TradingViewAs US equities avoided major volatility, new analysis from trading resource Mosaic Asset Company saw the potential for renewed upside amid “extremely oversold” conditions.“On a year-to-date basis, the percent of stocks trading in short-term uptrends has only been this low back in late March when the S&P fell near correction territory. Many other measures of breadth show the presence of an oversold condition while investor sentiment has seen a large jump in bearish views over the past two weeks,” it wrote on Tuesday.Mosaic added that robust economic data, including higher-than-expected job gains in August, could support further stock gains even as the Federal Reserve raises interest rates. As Cointelegraph reported, markets expect the Fed to hike rates by 0.25% at its October meeting.Long-term holder supply reinforces overhead resistanceOn low time frames, Bitcoin remained under the influence of exchange order-book liquidity shifts.Data from CoinGlass showed overhead resistance thickening at $85,000 on the day, with price dropping as a result — a repeat of behavior seen at the start of the week.BTC liquidation heatmap. Source: CoinGlassOnchain analytics platform Glassnode added that coins held by long-term holders (LTHs) — wallets holding a UTXO for at least six months without selling — were clustered around $85,000, increasing the likelihood of profit-taking if Bitcoin attempts to break above that level.“$BTC has stalled under its heaviest supply cluster. More long-term holder coins sit at 84k–85k than at any other price on the chart. Price needs to break through and hold above this level for the rally to continue,” it told X followers.Bitcoin LTH supply data. Source: Glassnode on X.comRelated: Bitcoin bull market ‘confirmed’ but $90K presents profit-taking risk: Analysis

Bitcoin (BTC) preserved crucial support into Tuesday as analysis warned of a new profit-taking surge.Key points:Bitcoin rebounded to $84,000 without violating $82,500, a level seen as essential to protecting market strength.US 30-year bond yields reached 5.58%, their highest level since June 2002, continuing a historic bond bear market.Glassnode analysis cautioned about ongoing profit-taking by Bitcoin investors in the week through Sept. 27.BTC price steadies as bond yields come off multidecade highsData from TradingView showed BTC/USD trading in a narrow intraday range below $84,300. BTC/USD one-hour chart. Source: Cointelegraph/TradingViewThe pair saw pressure on Monday as risk assets fell on uncertainty over the US-Iran war and associated global oil supplies, while bond yields spiked. The US 30-year yield reached 5.58%, its highest since June 2002, before easing to 5.55% at the time of writing. The 10-year yield hit 5.26%, a level last seen in June 2007.US 30-year bond yield one-month chart. Source: Cointelegraph/TradingView“Bitcoin’s recent technical strength faces potential pressure from the convergence of geopolitical uncertainty, macroeconomic data risk, and broad-based deleveraging,” trading company QCP Capital commented in its latest analysis.QCP saw war developments and the week’s upcoming US macroeconomic data prints as the main prospective volatility catalysts for crypto and risk assets in the short term. The latter includes the August print of the Personal Consumption Expenditures (PCE) index on Wednesday and Friday’s nonfarm payrolls data for September.Bitcoin, however, avoided falling below $82,500, a level that analysis by trader Rekt Capital identified as essential to protecting its uptrend. As Cointelegraph reported, on weekly time frames, spot price continues to repeat an inverse head-and-shoulders reversal pattern that began the recovery from its 2022 bear market.In a subsequent update, Rekt Capital saw BTC/USD retesting the top of the $60,000-80,000 range, where it spent much of 2026, as support.“It is fair to say this current retest is a trend-defining one,” he emphasized.BTC/USD one-week chart. Source: Rekt Capital on X.com Analysis: Bitcoin now “dominated” by profit-takingIn its latest Market Pulse update, onchain analytics platform Glassnode saw profit-taking among Bitcoin investors increasingly impacting price momentum.Related: Crypto metric signals altseason as Bitcoin market-cap share stalls below 60% Both realized and unrealized profit increased considerably over the past week, with overall profitability “stretched” at current price levels. Net unrealized profit/loss (NUPL), which measures the difference between the market value of the BTC supply and the price at which it last moved onchain, hit 14.25 at the start of the week, its highest reading since January.Bitcoin NUPL data (screenshot). Source: GlassnodeThe ratio of coins moving onchain in profit compared to in loss also increased substantially last week, from 0.8 to 1.4. This, Glassnode warned, “strongly suggests a market environment dominated by profit-taking activities.” Bitcoin realized profit/loss ratio (screenshot). Source: GlassnodePreviously, Cointelegraph reported on expectations that price upside would stall closer to $90,000 as investors locked in profit.