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Bitcoin stalls near $86,500 after best weekly close in eight months
BTC was trading around $86,000 after the Wall Street open, with resistance near the weekly open level around $86,500 as US bond yields moved higher.
Bitcoin failed to extend gains after logging its best weekly close in eight months, with the prior session’s weekly close creating resistance for BTC at the start of Monday’s US trading.
Cointelegraph said BTC fluctuated around $86,000 after the Wall Street open, struggling to push past its weekly open near $86,500, according to TradingView.
The same report linked the lack of follow through to a rise in US bond yields, with the 30-year yield moving back above 5.67% and the 10-year yield returning to 5.31%.
Cointelegraph also noted that the 30-year and 10-year yields were near levels seen in the prior week, with the 30-year yield just two basis points below 24-year highs and the 10-year yield back at last week’s high area.
Latest closeBitcoin $85,228.88 ▼1.4%