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Bitcoin Slips Below $85,000 as Rising Treasury Yields Pressure Crypto Market

Bitcoin Slips Below $85,000 as Rising Treasury Yields Pressure Crypto Market

Bitcoin retreats from its recent high as rising borrowing costs weigh on broader risk assets.

Written by Rahul Dhingra, Edited by Ketan Pratap | Updated: 24 September 2026 13:44 IST

Bitcoin Slips Below $85,000 as Rising Treasury Yields Pressure Crypto Market

Photo Credit: Unsplash/Jonathan Borba

Bitcoin retreats as investors reassess the broader risk environment

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Highlights

US Treasury yields climb as borrowing costs increase
Spot Bitcoin ETFs attract $1.7 billion in two days
$16 billion options expiry could trigger sharper price swings

Bitcoin traded near Rs. 80.5 lakh on Thursday as the cryptocurrency market came under renewed pressure from rising US Treasury yields and expectations of further interest-rate increases. Ethereum (ETH) was trading near Rs. 2.57 lakh, while major altcoins showed mixed momentum. Market participants said the latest decline followed a sharp sell-off in US bonds that pushed borrowing costs higher and pressured broader risk assets. According to CoinGecko data, Bitcoin traded near $84,400 (roughly Rs. 80.9 lakh), and Ethereum traded near $2,700 (roughly Rs. 2.58 lakh).

The world's largest cryptocurrency fell 2.7 percent in the last 24 hours, as per the Gadgets 360 price tracker. Analysts said Bitcoin's retreat from its recent eight-month high of $87,400 (roughly Rs. 83.8 lakh) reflects a cooling-off move after its sharp weekly rally, while rising Treasury yields and higher expectations of an October rate hike are adding pressure.

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Major Altcoins Traded With Mixed Momentum on Thursday

Binance Coin (BNB) was priced around $775 (roughly Rs. 74,300), while Solana (SOL) traded near $115.5 (roughly Rs. 11,000). XRP hovered around $1.5 (roughly Rs. 143), while Dogecoin (DOGE) was trading close to $0.094 (roughly Rs. 8.6).

BitMEX Ends Crypto Trading as Withdrawals Remain Open

Rising Yields Put Bitcoin Recovery Under Pressure

Assessing Bitcoin's latest retreat, Vikram Subburaj, CEO of Giottus.com, said, “The decline of about 2.5 per cent over 24 hours is largely a cooling-off move after a sharp weekly rally, rather than a clear reversal [...] US spot Bitcoin ETFs provided much of the momentum. They received about $2.31 billion (roughly Rs. 22,148 crore) over four trading sessions through September 22 [...] Investors should avoid reacting to a single day's movement after such a rapid rally.”

Pointing to continued institutional demand despite the renewed pressure, Prateek Gupta, Head of Business, Mudrex, said, “Bitcoin is facing renewed pressure near $84,000 (roughly Rs. 80.54 lakh) as stronger US business activity pushed the 10-year Treasury yield to its highest level since 2007, while October rate-hike expectations climbed to around 70 per cent. However, underlying demand remains firm, with US spot Bitcoin ETFs recording $1.7 billion (roughly Rs. 16,300 crore) in inflows over two days [...] More importantly, the $16 billion (roughly Rs. 1,53,408 crore) options expiry on Friday could bring sharper price swings.”

Overall, analysts said the upcoming PCE inflation and employment data, along with Friday's $16 billion (roughly Rs. 1,53,408 crore) options expiry, could add volatility. Bitcoin's $82,500-$85,000 (roughly Rs. 79.1 lakh-Rs. 81.5 lakh) area remains important for the next move, while $86,500 (roughly Rs. 82.9 lakh) is the key resistance level.

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.

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Further reading: Ethereum, Crypto markets, Crypto Prices

Rahul Dhingra

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Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More