Bitcoin falls back as $85,000 resistance holds
Bitcoin price faces $85,000 resistance as bond yields rise and pressure markets Onchain data flags heavy supply overhead, with liquidity building above spot for a potential breakout
Bitcoin lost some of its recent gains after failing to break through the $85,000 area, with the price slipping back below $83,000 during Tuesday’s US trading session.
The article says rising US bond yields added pressure across markets, with the 30year yield reaching a new multidecade high and the 10year yield climbing toward levels last seen in 2007. Gold also moved lower before partially recovering, showing broader strain in risk and preciousmetals markets.
Onchain data cited by the report showed a large cluster of longterm holder supply around $84,000 to $85,000, suggesting many holders may be inclined to sell if Bitcoin approaches that range again. Market liquidity on exchanges also appeared to be building above spot price, reinforcing that level as nearterm resistance.