Bitcoin (BTC) hovered around $86,000 on Monday after the Wall Street open, failing to hold above the weekly close level of $86,570 despite its strongest close in eight months. US Treasury yields continued to rise.

US Yields Return to Multi-Year Highs

The yield on 30-year US Treasury bonds climbed again to 5.67%, just 2 basis points below last week’s 24-year highs. The 10-year yield returned to 5.31%, compared to last week’s peak of 5.34%.

Market Awaits Fed Pause on October 28

US stocks opened with moderate gains: the S&P 500 and Nasdaq Composite rose 0.5% and 0.7%, respectively, as market participants anticipate a pause in rate hikes at the next FOMC meeting on October 28. Deutsche Bank analysts expect the minutes from the Fed’s September meeting, due Wednesday, to draw increased attention amid the bond sell-off. QCP Capital noted that, despite soft employment data, rising oil prices and high long-term yields are limiting the upside for risk assets.

Glassnode: Growth Momentum Weakens, Resistance at $87,570

Compared to mid-September, when BTC returned to $87,000 for the first time in eight months, Glassnode reports a decline in buyer dominance and a "less aggressive" rally with no signs of an immediate reversal. Bitcoin is holding onto its September gains amid active profit-taking. The 2026 yearly open at $87,570 remains a key psychological resistance level above the market.