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Bitcoin Surges to $86,342, Gains 3.44% in a Week Amidst Market Recovery
M
Moneycontrol•05-10-2026, 09:09
Bitcoin Surges to $86,342, Gains 3.44% in a Week Amidst Market Recovery
- •Bitcoin climbed to $86,342, marking a 3.44% gain over the past week, with overall crypto market capitalization rising to $2.95 trillion.
- •Bitcoin maintains market dominance at nearly 59.15%, with a 69.24% weight in the CMC20 index, highlighting its leadership.
- •Rising global bond yields, particularly the US Treasury yield at 5.34%, could restrict liquidity for crypto, increasing the opportunity cost for volatile assets like Bitcoin.
- •ETF demand for Bitcoin cooled significantly, attracting only $223 million last week compared to $2.39 billion previously, with the Coinbase Premium remaining negative.
- •Investors are advised to use a staggered approach due to potential volatility, with key resistance at $88,500 and support at $83,000; breaking $87,500 could target $90,000.
Key Questions Answered
Bitcoin faces immediate resistance at $88,500, with support standing at $83,000.
ETF demand cooled sharply, with spot Bitcoin funds attracting just $223 million last week compared to $2.39 billion previously.
With the US Treasury yield reaching 5.34 percent, investors can earn stronger returns from lower-risk government debt, increasing the opportunity cost of holding volatile assets like Bitcoin.
