Bitcoin Retreats from $85,500 High as Treasury Yields Weigh on Gains

Bitcoin briefly climbed above $85,500 following lower-than-expected U.S. PCE inflation data, but gains were capped by high U.S. Treasury yields. LVRG Research analyst Dan Khus noted that while the PCE data reduced expectations for an October rate hike, the 10-year Treasury yield remains near 5.3% and the 30-year yield hit its highest level since 2002. Other assets saw mixed performance, with HYPE rising 3% to $89 and DOGE up 2% to $0.1, while ETH, BNB, TRX, and ZEC gained less than 1%, XRP held steady at $1.5, and SOL fell 1% to $119.