Bitcoin price fails to break higher after best weekly close in eight months

Key Summary

Bitcoin's highest weekly close in eight months failed to break higher after forming low-timeframe resistance, fluctuating around $86,000 after the US trading session. US bond yields rose, with the 30-year yield reaching 5.67% and the 10-year yield at 5.31%, limiting upside momentum for risk assets. Despite recent cooler US employment data, elevated oil prices and long-dated yields continued to impact the market. Trading company QCP Capital noted that geopolitical uncertainty persisted, while Deutsche Bank analysts suggested the minutes from the September FOMC meeting would be crucial in shaping the Fed's communication and interest-rate hikes.