Bitcoin Stays Near $83,000 as Treasury Yields Keep Recovery in Check

Highlights

• Spot Bitcoin ETFs record strongest weekly inflows since October 2025
• Higher Treasury yields continue to weigh on risk appetite
• US PCE inflation data could influence the next market move

Bitcoin traded near Rs. 79.6 lakh on Monday as the cryptocurrency market remained supported by strong institutional demand. However, elevated US Treasury yields and a stronger dollar continued to constrain broader risk appetite. Ethereum (ETH) was trading near Rs. 2.53 lakh, while major altcoins showed mixed momentum. Market participants said strong spot Bitcoin ETF inflows and improved liquidity are supporting the latest consolidation, even as higher yields and expectations around the Federal Reserve's rate path remain a headwind. According to CoinGecko data, Bitcoin traded near $83,000 (roughly Rs. 79.6 lakh), and Ethereum was trading near $2,600 (roughly Rs. 2.49 lakh).

The world's largest cryptocurrency fell by 1.9 percent in the last 24 hours, as per the Gadgets 360 price tracker. Analysts said Bitcoin is consolidating after its sharp September rally, with US spot Bitcoin ETFs drawing roughly $2.39 billion (roughly Rs. 22,916 crore) last week, marking their strongest weekly inflows since October 2025. 

Major Altcoins Traded With Mixed Momentum on Monday

Binance Coin (BNB) was priced around $761 (roughly Rs. 73,000), while Solana (SOL) traded near $118 (roughly Rs. 11,300). XRP hovered around $1.48 (roughly Rs. 142), while Dogecoin (DOGE) was trading close to $0.092 (roughly Rs. 8.6). 

Institutional Demand Supports Bitcoin Despite Macro Pressure

Highlighting the role of institutional demand in supporting Bitcoin, the CoinSwitch Markets Desk said, “Bitcoin's resilience around $84,600 (roughly Rs. 81.13 lakh) is increasingly being underpinned by institutional demand, with US spot Bitcoin ETFs drawing roughly $2.39 billion (roughly Rs. 22,916 crore) last week, their strongest weekly inflows since October 2025. That level of buying suggests larger investors are continuing to absorb supply even as elevated Treasury yields and a stronger dollar keep broader risk appetite constrained. This divergence is important because it gives Bitcoin a source of demand that is holding up despite a relatively restrictive macro backdrop.”

Pointing to improving liquidity conditions and continued ETF demand, Nischal Shetty, Founder, WazirX, said, “The bigger signal is liquidity: US spot BTC ETFs saw $134.5 million (roughly Rs. 1,289 crore) of inflows, while ETH ETFs added $86.95 million (roughly Rs. 834 crore), taking weekly flows to roughly $2.39 billion (roughly Rs. 22,916 crore) and $690 million (roughly Rs. 6,615 crore) respectively. However, elevated Treasury yields and Fed-hike expectations remain a liquidity headwind.”

Commenting on Bitcoin's consolidation and the rise in leverage, Vikram Subburaj, CEO, Giottus.com, said, “The recent rally is now facing some resistance. US Treasury yields remain elevated, and expectations around the Fed's rate path have become more hawkish [...] For investors, it would be prudent to avoid chasing the rally at current levels. Keeping leverage limited and using staggered entries can help manage volatility while the market responds to ETF flows, Treasury yields and incoming US inflation data.”

Overall, analysts pointed at increased futures positioning and funding rates as signs of higher leverage, which could amplify market moves. Bitcoin's $82,000-$84,000 (roughly Rs. 78.6 lakh-Rs. 80.5 lakh) support area remains important, while $85,000-$90,000 (roughly Rs. 81.4 lakh-Rs. 86.2 lakh) represents the broader resistance zone. The September 30 US PCE inflation data could provide further clues on the direction of monetary policy and Bitcoin's next move.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.