TLDR
- Bitcoin traded flat near $84,420 after paring earlier losses tied to rising oil prices and Treasury yields.
- The U.S. 10-year yield jumped above 5%, its strongest level since 2007, hurting risk assets like BTC.
- Brent crude rose above $105 a barrel as U.S.-Iran tensions continued to affect energy markets.
- Whales reportedly bought about 30,269 BTC, worth roughly $2.57 billion, during the recent dip.
- Polymarket data shows a 62% chance the U.S.-Iran ceasefire holds through October 31.
Bitcoin traded close to flat on Thursday, recovering part of an earlier drop. The price sat at $84,420.2 as of 17:53 ET, according to Investing.com data.
The pullback followed a mix of pressures across financial markets. Oil prices climbed, Treasury yields spiked, and traders raised bets on more Federal Reserve rate hikes.
The broader crypto market also cut its losses. Most major coins were still holding onto gains for the week after a rally earlier on Monday.
Yields And Oil Prices Weigh On Risk Assets
The U.S. 10-year Treasury yield rose back above 5%. That is its highest level since 2007.
Strong U.S. purchasing managers data and hawkish comments from a Federal Reserve official pushed up expectations for further rate increases. The Fed had already raised rates by 25 basis points the previous week.
Higher yields tend to reduce demand for riskier assets like Bitcoin. Bonds offer better returns in that kind of environment, so some investors shift money away from crypto.
Bond yields also rose elsewhere. Japanese 10-year yields hit a 30-year high on Thursday.
Oil added to the pressure. Brent crude rose to $105.02 a barrel after hopes faded for a diplomatic breakthrough between the U.S. and Iran.
Iranian President Masoud Pezeshkian criticized the U.S. and President Donald Trump in a speech at the United Nations General Assembly on Wednesday. That speech coincided with the latest jump in oil prices.
Despite the pressure, analyst Ali Charts said large holders were buying during the dip. He pointed out that Bitcoin fell 5.24% from $87,400 to a low of $82,800 since September 21, but whales accumulated close to 30,269 BTC, worth about $2.57 billion, over a 96-hour stretch.
WHALES ARE BUYING THE DIP
Since September 21, Bitcoin has dropped 5.24%, falling from $87,400 to a low of $82,800.
But while price corrected, whales appear to have taken advantage of the weakness.
Over the past 96 hours, large entities accumulated roughly 30,269 $BTC, worth… https://t.co/YA0DGPjiYk pic.twitter.com/zk7MZMBS81
— Ali Charts (@alicharts) September 24, 2026
Separately, Bitcoin rebounded from an intraday low near $83,000 to trade around $84,300, according to TradingView data. That move came alongside reports that U.S. and Iranian negotiators are exploring a phased plan to reopen the Strait of Hormuz and end the current blockade.
War Concerns Still Linked To Inflation Bets
Analyst Ted Pillows compared the current pullback to a prior pattern. He said Bitcoin dropped 22% in 2023 after forming a similar higher high, and while he isn’t expecting a repeat, he flagged the $78,000 to $79,000 zone as a possible level before the next move up.
$BTC drop after forming a higher high is not unusual.
In 2023, Bitcoin dropped 22% after its first higher high.
Not expecting a similar drop, but Bitcoin could tap the $78,000-$79,000 zone before its next leg up. pic.twitter.com/Sar2I47q9o
— Ted (@TedPillows) September 24, 2026
Reuters reported that neither side in the Iran talks has agreed to give up leverage first, so nothing concrete has been finalized.
The ongoing conflict keeps pressure on energy prices, with diesel prices also rising to new highs. Inflation remains above the Fed’s 2% target.
Polymarket data shows a 62% chance the ceasefire holds through October 31. U.S. Secretary of State Marco Rubio said talks between the two sides were positive but confirmed no breakthrough has occurred yet.
