Bitcoin fails to extend gains after strongest weekly close in eight months
Bitcoin price near $86K faces resistance as bond yields pressure risk assets See key levels, onchain signals, and what could drive the next breakout
Bitcoin traded near $86,000 on Monday after Wall Street opened, but it was unable to push above its recent weekly close level. The move came as US bond yields rose again, adding pressure to risk assets.
The cryptocurrency had logged its highest weekly close in eight months, yet price action remained subdued around the $86,500 area. Traders also pointed to the 2026 yearly open near $87,570 as a key resistance level.
Market analysts said elevated longterm bond yields and stilluncertain macro conditions were limiting momentum. Glassnode also noted that recent onchain data shows less aggressive buying than earlier in the month, although it does not signal a clear trend reversal.