Bitcoin Holds Near $84,000 as Open Interest Falls $1.7 Billion

Bitcoin (BTC) held near $84,000 Friday as open interest across four major exchanges fell by about $1.7 billion while long-term Treasury yields climbed.

Combined Bitcoin open interest fell 14.3%, from roughly $12 billion on Sept. 22 to about $10.3 billion on Sept. 25. The decline included drops of about $710 million on Gate.io and $680 million on Binance.

BTC fell about 2.3% over the same period, slipping from approximately $86,000 to $84,000. Open interest counts outstanding long and short derivative positions, so the reduction does not show which side accounted for most of the decline or establish that $1.7 billion in long positions were liquidated.

The 10-year Treasury yield reached 5.22% intraday, while the 30-year yield touched 5.5185%. The official Sept. 24 daily par-yield figures were 5.18% for the 10-year note and 5.47% for the 30-year bond.

Higher Treasury yields increase the relative appeal of interest-paying government debt compared with Bitcoin, which pays no coupon or dividend. The bond market and further U.S. economic data remain the key market variables for the next move.