Bitcoin traded near $86,000 following the opening of Wall Street on Monday. The asset struggled to surpass its weekly opening level of approximately $86,500, despite achieving its highest weekly close since late January.
Rising US bond yields continue to impact market sentiment. The 30-year yield reached 5.67%, while the 10-year yield climbed to 5.31%. Analysts at QCP Capital noted that elevated yields and oil prices are currently constraining momentum for risk assets.
US stock markets showed moderate gains, with the S&P 500 rising 0.5% and the Nasdaq Composite increasing by 0.7%. Investors are anticipating that the Federal Reserve will pause interest-rate hikes at the upcoming FOMC meeting scheduled for October 28.
Deutsche Bank analysts highlighted that the minutes from the September FOMC meeting, due Wednesday, will be significant given the current bond market volatility. The document is expected to provide insight into the Committee's perspective on the tightening cycle.
On-chain data from Glassnode indicates a moderation in buyer dominance compared to mid-September. While profit-taking remains active, Bitcoin has maintained its gains from the previous month, with the 2026 yearly open at $87,570 acting as a key resistance level.
