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Bitcoin price traded at $84,160.55 after an eight-month high above $86,000, rising despite a 10-year Treasury yield of 5.12% and hawkish Fed expectations.
Bitcoin was trading at $84,160.55 at press time after peaking at a height of $86,000 a few days earlier, according to AMBCrypto. The leading cryptocurrency moved above $87,000 on 23 September and later settled around $84,000. The rally drew wide attention because it happened while interest rate expectations, Treasury yields and inflation concerns were still creating pressure on risk assets.
Bitcoin Rally Defies Macroeconomic Pressure
Bitcoin did not rise because the macroeconomic environment suddenly became easy. The U.S. 10-year Treasury yield climbed to around 5.12% on 23 September. With that percentage, the 10-year yield reached its highest level since 2007.
At the same time, the Fed maintained a hawkish stance. Persistent inflation concerns and stronger September PMI data further raised expectations of another rate hike. Those factors normally act as a headwind for Bitcoin and other risk assets.
Yet Bitcoin recovered from roughly $75,000 during the period. It moved above $87,000 on 23 September and then settled around $84,000 at press time. The move also marked an eight-month high above $86,000.
Bitcoin ETF Inflows Support the Rebound
BlackRock accounted for roughly half of the inflows linked to the rebound, according to the report. The recovery also recovered much of the ETFs previous cumulative outflows. That shift in fund flows helped Bitcoin regain ground even as broader macroeconomic conditions remained tight.
The U.S. 10-year Treasury yield climbed to around 5.12% while Bitcoin simultaneously moved above $87,000. The parallel moves highlighted how Bitcoin price strength diverged from the pressure coming from rate expectations and bond markets.
AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to readers. It has grown into a digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers monthly across the globe.
Context for Bitcoin Price Watchers
The combination of rising Treasury yields and a hawkish Fed would usually weigh on speculative assets. Bitcoin instead recovered from roughly $75,000 and pushed to an eight-month high above $86,000 before easing to $84,160.55 at press time.
The role of BlackRock and ETF inflows was a key part of the rebound. Roughly half of the inflows were attributed to BlackRock, and the recovery absorbed much of the previous cumulative outflows from the ETFs.
For readers tracking Bitcoin, the episode illustrates how spot ETF demand can at times offset macroeconomic headwinds. The main numbers remain the $84,160.55 press-time price, the $86,000 peak, the move above $87,000 on 23 September, the recovery from about $75,000, and the 5.12% U.S. 10-year Treasury yield.
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