Bitcoin Price Targets 2026 Yearly Open at $87,570: Key Levels to Watch This Week

Bitcoin is pressing against critical resistance as bulls attempt to reclaim the 2026 yearly open at $87,570, a level that would turn the yearly candle green for the first time this cycle. After sealing its highest weekly close since late January at $86,532 on Bitstamp, BTC/USD briefly wicked to $87,000 across major exchanges before pulling back. According to TradingView data, this marks Bitcoin's fourth attempt to break higher since September 21, with traders closely watching whether the yearly open finally gives way. Analyst Rekt Capital noted on X that Bitcoin remains "sandwiched between the ~$82,500 key support and the ~$86,700 resistance," warning that a failure to hold support could send price back into the 2026 range between $60,000 and $80,000.

Macro conditions are taking center stage this week as US bond markets capture trader attention. The 10-year and 30-year Treasury yields hit 5.34% and 5.69% respectively last week, levels not seen since 2002, before rebounding after weak nonfarm payrolls data. With the Federal Reserve's next rate decision widely expected to hold steady, Wednesday's 10-year note auction and upcoming Fed meeting minutes could dictate risk-asset momentum. The Kobeissi Letter flagged the bond market as "in the spotlight this week" amid expectations that elevated yields continue to pressure speculative assets.

Liquidity dynamics remain tight, with CoinGlass liquidation heatmaps showing concentrated interest at $83,700 and the $87,570 yearly open. Short liquidations around $85,500 were triggered over the weekend, while thick bid and ask walls around spot price have suppressed volatility. Despite these range-bound conditions, historical data offers a bullish signal: October has delivered an average 18.7% upside for Bitcoin since 2013, and BTC has so far brushed off the month's traditionally weak opening sessions. A decisive close above $86,700 could open the path toward $93,700, according to Rekt Capital's weekly chart analysis.