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Bitcoin (BTC) preserved crucial support into Tuesday as analysis warned of a new profit-taking surge.
Key points:
- Bitcoin rebounded to $84,000 without violating $82,500, a level seen as essential to protecting market strength.
- US 30-year bond yields reached 5.58%, their highest level since June 2002, continuing a historic bond bear market.
- Glassnode analysis cautioned about ongoing profit-taking by Bitcoin investors in the week through Sept. 27.
BTC price steadies as bond yields come off multidecade highs
Data from TradingView showed BTC/USD trading in a narrow intraday range below $84,300.Â
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
The pair saw pressure on Monday as risk assets fell on uncertainty over the US-Iran war and associated global oil supplies, while bond yields spiked. The US 30-year yield reached 5.58%, its highest since June 2002, before easing to 5.55% at the time of writing. The 10-year yield hit 5.26%, a…
