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Live updates: Bitcoin steadies near $84,000 as the bond selloff pauses
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Bitcoin steadied just above $84,000 on Friday, changing little over 24 hours after slipping below that threshold earlier in the week, according to CoinDesk data. The pause offered a calmer start to the session, but it did not erase the recent pullback in the worldâs largest cryptocurrency. Traders were still waiting to see whether the mid-August rally would regain momentum or turn into a deeper consolidation. The relatively quiet headline price masked sizable moves elsewhere in the digital-asset market.
Most major tokens followed bitcoin, moving less than 2% over the reported period. ONDO stood out with a 27% gain to about $0.54, while Quant jumped 39% to nearly $100. Those advances suggested that speculative appetite had not disappeared entirely, even as the largest assets digested losses. They also highlighted the marketâs tendency to reward smaller tokens with sharper swings when liquidity and sentiment shift quickly.
A temporary stabilization in bonds and oil helped improve the broader setting for risk assets. In Asia, the U.S. 10-year Treasury yield eased two basis points to 5.17%, after climbing more than 20 basis points across the previous two sessions. Brent crude fell about 1% to $105 a barrel on reports that Washington and Tehran were exploring a phased deal to reopen the Strait of Hormuz. Easing bond pressure and hopes of reduced geopolitical disruption offered investors some relief, although both markets remained volatile.
FxPro chief market analyst Alex Kuptsikevich described bitcoinâs retreat as a stall before a technical target rather than a confirmed breakdown. He said the cryptocurrency encountered resistance near a level that had previously been significant support, preventing the advance from completing a 161.8% Fibonacci extension of the impulse that began in mid-August. In his view, the move had not finished the sequence expected by technical bulls, leaving the broader uptrend intact for now. The distinction matters because a consolidation and a trend reversal can look similar before price confirms either outcome.
Kuptsikevich nevertheless warned traders not to treat the bullish structure as a guarantee. He noted that bitcoin lost more than 50% from its peak in 2021 before eventually reaching new highs, a reminder that severe drawdowns can occur even within longer bull markets. A move toward $70,000 could hurt short-term speculators, he said, without necessarily invalidating the bullish outlook. His comments framed the current risk as potentially painful but not, by itself, decisive.
Fridayâs derivatives expiry became the next major test. Bitcoin approached the session below $85,000, a strike associated with one of the largest blocks of call options on Deribit. If spot prices remain below that level into expiration, holders may be more likely to exercise those calls rather than let them expire worthless, creating a supply overhang. Continued weakness could also put pressure on leveraged positions, increasing the chance of forced selling. If bitcoin instead reclaims the strike with conviction, renewed demand for bullish exposure could support a rebound.
For now, the market appears divided between a technical bull case and a still-unsettled macro environment. Holding above $84,000 would offer stabilization, but a sustained recovery would require more than a brief pause in bond and oil volatility. Conversely, a sharp fall would challenge the idea that the latest pullback is merely temporary and could expose traders to substantial losses. The coming sessions will show whether bitcoin can turn consolidation into momentum, while the next Deribit expiry and shifting risk signals from bonds and oil are likely to shape that path.
