Bitcoin Consolidates as Rising Treasury Yields Dampen Risk Appetite

Bitcoin is trading slightly above $83,000 as rising US 10-year Treasury yields, now nearing 5%, pressure risk assets. Market participants are pricing in a 70% probability of an October Fed rate hike. While US spot Bitcoin ETFs saw $23.8 million in net outflows, BlackRock’s ETHA attracted $50.37 million, indicating a rotation in institutional interest. Immediate support is identified at $83,000-$83,300, with resistance at $85,500-$86,000.