Bitcoin Holds Above $84,000 as Treasury Yields Ease From Multiyear Highs

Bitcoin (BTC) traded above $84,000 around the U.S. market open Oct. 1 as 10-year and 30-year Treasury yields retreated from new highs and the cryptocurrency sought to preserve a pattern of higher hourly lows.

Bitcoin was up 0.6% on the day, with $84,000 in focus. The 10-year yield reached 5.342%, its highest level since April 2002, before easing to 5.251%. The 30-year yield also set a new high, though no specific level was provided.

Order-book liquidity was concentrated near $84,500 and $82,900. Liquidations over the previous 24 hours totaled $25 million.

Analyst Rekt Capital pointed to about $82,500 as a potential support retest. He wrote that a successful retest could set up the next trend continuation, while cautioning that it could “get messy” and urging traders to take it one level at a time.