Bitcoin struggles to reclaim $80,000 as Treasury yields remain elevated

Bitcoin failed to break the $80,000 resistance level on September 11, despite a rally in US stocks. While long-dated Treasury yields retreated from multi-year highs, they remain at levels that pressure risk assets. Markets are pricing in an 85% probability of a 25-basis-point Federal Reserve rate hike. Options data from QCP indicates concentrated activity at $78,500 and $80,000, with ongoing demand for downside protection.