+34
Bitcoin continued to lose momentum on Monday, cooling after a blistering rally in recent weeks, as a fresh bout of macro uncertainty weighed on risk assets.
-- Bitcoin continued to lose momentum on Monday, cooling after a blistering rally in recent weeks, as a fresh bout of macro uncertainty weighed on risk assets.
US Stocks and Treasuries Fall as Oil Pushes Higher: Markets Wrap The original cryptocurrency fell as much as 2.3% to $82,568 before paring some losses. It remained below $83,000 in early morning trading in New York. Other digital assets also declined, with second-largest token Ether down as much as 1.9% and Solana falling 3.9%. The macro backdrop has weighed on cryptocurrencies.
Crypto fell along with stocks and bonds after President Donald Trump rejected Iran's latest proposal to reopen the Strait of Hormuz, while oil extended its gains. The moves come as markets are also digesting the Federal Reserve's decision earlier this month to raise interest rates, with traders beginning to price a meaningful chance of another hike in October. The pullback follows a rally early last week that briefly pushed Bitcoin above $87,000, its highest level since January.
Institutional demand also picked up, with Bitcoin exchange-traded funds attracting their largest weekly net inflows since the token reached a record above $126,000 last October. Still, some investors see Bitcoin's recent weakness as a pause after earlier strong gains, rather than an end to the positive momentum.
"I don't think the rally lacks conviction just based on weakness over the last few days, which would be expected at some point given the strength of late," said Richard Galvin, executive chairman at crypto investment firm DACM. US spot Bitcoin ETFs attracted about $2.4 billion in the week ended Sept. 25, their biggest weekly haul since the period that ended on Oct. 10, when inflows topped $2.7 billion.
That came just ahead of a selloff that extended through much of 2026. The recent surge was enough to push the ETFs into positive territory for the year. After recording more than $5 billion in net outflows through the end of July, the funds have since reversed that trend and are now approaching $1 billion in net inflows for 2026. Bitcoin has been on a tear over the past month.
The token has surged about 28% since Aug. 19, when the US Treasury said it would increase buybacks of long-dated bonds. Now it's on track for its best quarterly performance since the fourth quarter of 2024, when the reelection of Donald Trump, who ran on a crypto-friendly agenda, helped Bitcoin surge 47%. The move marks a substantial recovery from the first half of the year, although Bitcoin remains well below its October high.
The token has risen over 40% from July through September so far, reversing a 14% loss in the previous quarter. Bitcoin had been relatively resilient in the face of recent developments seen as potentially detrimental to the industry. Beyond the Fed's rate increase, the US Senate recently failed to advance the crypto-focused Clarity Act, legislation that was highly anticipated by crypto firms seeking clearer rules in the country.
Bitcoin is also becoming more intertwined with the broader Treasury and liquidity environment. Higher Treasury yields — which are now higher than before the Aug. 19 buyback announcement — can make non-yielding assets such as Bitcoin less attractive, particularly when investors expect central banks to keep rates high.
"For Bitcoin to break 2026 highs, it's likely that the broader macro environment needs to be favorable," said Damien Loh, chief investment officer at Ericsenz Capital.
Canada Latest News, Canada Headlines
Similar News: You can also read news stories similar to this one that we have collected from other news sources.
Moore, Teodosio rally Angels past MarinersChristian Moore hit a two-run double and had three RBIs, Bryce Teodosio drove in two runs, and the Los Angeles Angels beat the Seattle Mariners 6-4 on Thursday night.
Read more »
BTC to $300K? Fidelity says THIS level comes firstBTC bulls have to withstand macro pressure to defend the crucial $82K line
Read more »
SUI jumps 16% as volume nears $1.7B – Traders, $2 ahead IF…SUI broke its descending channel as stronger trading and network activity supported the 16.59% rally.
Read more »
Bitcoin Consolidates at $83k-$85k After Rally, Analysts Weigh UptoberBitcoin trades between $83k and $85k after a rally from $76k to $87k. Analysts debate whether October's bullish history will lead to a breakout or a deeper correction.
Read more »