Bitcoin stalls near $86,500 after best weekly close in eight months
In brief
- Bitcoin fluctuated around $86,000 after Monday's Wall Street open, per Cointelegraph.
- BTC/USD stayed below its weekly open near $86,500, TradingView data showed.
- US 30-year yield passed 5.67%, two basis points below 24-year highs.
- Glassnode flagged lower buyer dominance but no immediate trend reversal.
The weekly close became resistance
TradingView data cited by Cointelegraph showed BTC/USD struggling to get past its weekly open level near $86,500. That level came from the best weekly close in eight months, and it turned into low-timeframe resistance once US trading opened.
It didn't break.
There's another level above that. Cointelegraph described the 2026 yearly open at $87,570 as key psychological resistance, and it had earlier reported that long-term holders' BTC was of particular interest in the area beyond $85,000.
Yields, stocks and the Fed
Cointelegraph reported that the US 30-year yield passed 5.67% again, two basis points below the 24-year highs from the previous week. The 10-year returned to 5.31% (last week's high was 5.34%). US stocks opened moderately higher, with the S&P 500 up 0.5% and the Nasdaq Composite up 0.7%.
According to QCP Capital, cooler US employment data hadn't been enough to calm bond markets while broader geopolitical uncertainty persisted.
"Despite the dovish employment print, elevated oil prices and elevated long-dated yields continue to limit upside momentum for risk assets broadly," QCP Capital wrote.
Traders expected the Federal Reserve to pause interest-rate hikes at the next FOMC meeting on Oct. 28. In a note quoted by CNBC, Deutsche Bank analysts suggested the September FOMC minutes, due Wednesday, would carry more weight than usual because of the bond sell-off.
What the onchain data shows
Glassnode flagged a drop in buyer dominance compared with mid-September, when BTC/USD returned to $87,000 for the first time in eight months. In its Weekly Market Pulse, the analytics platform said the behavior reflected moderating upward momentum without signalling an immediate trend reversal.
Glassnode also said Bitcoin has held its September upside even as profit-taking continues to "run hot."
Glassnode's read is that momentum has slowed but the trend hasn't turned. BTC is still sitting under two overhead levels ($86,500 and $87,570), and Wednesday's minutes are the next scheduled Fed event.
Frequently asked questions
What price levels is Bitcoin struggling to break?
Citing TradingView data, Cointelegraph reported that BTC/USD struggled to move beyond its weekly open near $86,500 after its highest weekly close since late January. The 2026 yearly open at $87,570 sits above that level as key psychological resistance.
What does Glassnode say about Bitcoin's momentum?
Glassnode flagged a drop in buyer dominance compared with mid-September. In its Weekly Market Pulse, it said this reflected moderating upward momentum without signalling an immediate trend reversal. It added that Bitcoin has held its September upside while profit-taking continues to run hot.
