Bitcoin Hovers Near $85,500 as 10-Year Yield Climbs to 5.31%

Published October 6, 2026, 04:52 UTC. Prices as of 04:00 UTC on October 6.

Bitcoin traded at about $85,480 at 04:00 UTC on Tuesday, October 6, down about 0.7% over 24 hours, according to CoinGecko. It nearly touched $87,000 on Sunday before pulling back to about $85,500 by late morning in U.S. trading on Monday, CoinDesk reported.

Bond yields keep rising

The 10-year U.S. Treasury yield was 5.31% on Monday, October 5, up from 5.28% on Friday, October 2, according to the U.S. Treasury's daily par yield curve. The 2-year yield was 4.84%, and the 30-year was 5.66%.

During the session, CoinDesk reported the 10-year at about 5.34% around 19:05 UTC. It said the 2-year had fallen as low as 4.71% on Friday after the weak September jobs report before climbing back.

Higher yields raise the return investors can get from government bonds, which can weigh on assets that pay no income, such as bitcoin. CoinDesk said rising rates were "possibly pressuring bitcoin" on Monday. U.S. stocks still rose, with the Nasdaq up 1.15% less than an hour before the close, according to the same live coverage.

The Fed picture

The Federal Reserve raised its target range to 3.75% to 4% on September 16 (see our Fed explainer). After Friday's report showed just 29,000 jobs added in September (see our jobs report story), traders cut bets on another hike at the October 28 decision. CoinDesk reported that the odds of an October hike rose to 24% on Monday, after slipping to about 15% at one point on Friday.

Monday's ISM services index, a survey of U.S. service businesses, came in at 54.9 for September, down from 55.4 in August, CoinDesk reported. Readings above 50 signal growth. Its prices-paid gauge rose to 74 from 72.6, a sign that businesses are still facing rising costs.

One year after the record

CoinDesk noted that on October 6, 2025, bitcoin crossed above $126,000 for the first time. At around $85,700 on Monday, it was roughly 32% below that high, according to CoinDesk.

What comes next

Minutes from the Fed's September meeting are due on Wednesday, October 7, CoinDesk reported. The September consumer price index follows on October 14 (see our CPI preview).

This article is news reporting and is not investment advice.

Sources

• CoinGecko, Bitcoin price, accessed Oct. 6, 2026, 04:00 UTC
• CoinDesk, Live updates: Bitcoin under pressure as rates continue to rise (Oct. 5, 2026)
• U.S. Department of the Treasury, Daily Treasury Par Yield Curve Rates, accessed Oct. 6, 2026, primary source