Bitcoin slips below $83,000 as Treasury yields and macro pressure weigh
CIE News ·
Bitcoin traded down near $82,800 on September 28 amid rising Treasury yields and geopolitical friction, even as spot ETFs marked a weekly inflow of $2.4 billion.
Bitcoin (BTC) traded defensively between $82,700 and $83,652 on September 28, cooling after an earlier run toward $87,000. According to KuCoin, citing QCP, the asset fell from $84,500 to $82,800 amid widespread deleveraging across global markets, while unn.ua reported an intraday low of $82,568. Broader digital assets also slid, with Ether falling 1.9% and Solana dropping 3.9%.
Macroeconomic conditions have pressured risk assets as the 10-year U.S. Treasury yield held above 5.22%, reaching levels unseen since 2007. This pressure followed the Federal Reserve raising interest rates to a range of 3.75% to 4.00%. Unn.ua reported that markets experienced additional strain after U.S. President Donald Trump rejected an Iranian proposal regarding the Strait of Hormuz, which sent Brent crude to $105.70.
Despite the pullback, U.S. spot Bitcoin ETFs registered $2.4 billion in net weekly inflows for the period ending September 25, according to unn.ua. Investors are monitoring upcoming macroeconomic reports, including the U.S. PCE inflation index, ISM manufacturing figures, and September nonfarm payrolls, to gauge the likelihood of an October rate increase.