Bitcoin Rebounds to $84K as US 30-Year Bond Yield Hits 24-Year High

Bitcoin recovered toward $84,000 on Tuesday after early-week losses, holding above a critical support level at $82,500 that analysts consider essential to preserving the asset's broader uptrend. According to TradingView data, BTC/USD traded in a narrow intraday range below $84,300, with trader Rekt Capital identifying the $82,500 floor as a trend-defining level. On weekly timeframes, spot price continues to echo an inverse head-and-shoulders reversal pattern that originally marked the recovery from the 2022 bear market.

The rebound came as US bond yields retreated from multidecade highs following a sharp sell-off in risk assets. The US 30-year Treasury yield spiked to 5.58%, its highest level since June 2002, before easing to 5.55%. The 10-year yield also reached 5.26%, a mark last seen in June 2007. QCP Capital attributed Monday's pressure on Bitcoin and other risk assets to uncertainty surrounding the US-Iran conflict and its impact on global oil supplies, warning that upcoming US macroeconomic data could drive further volatility. Traders are watching Wednesday's Personal Consumption Expenditures (PCE) index print and Friday's September nonfarm payrolls report as key catalysts.

Onchain analytics platform Glassnode, however, cautioned that profit-taking among Bitcoin investors is increasingly shaping price momentum. In its latest Market Pulse update, Glassnode noted that both realized and unrealized profits remained elevated through the week ending Sept. 27, raising the risk of a renewed selling surge. Rekt Capital separately observed that BTC/USD is retesting the top of the $60,000–$80,000 range, where it spent much of 2026, as support. "It is fair to say this current retest is a trend-defining one," he wrote, underscoring the stakes for Bitcoin's medium-term trajectory if the $82,500 level fails to hold.