Bitcoin moved in a narrow range below $84,300 after an early-week drop, holding the key support level at $82,500. Cointelegraph reported on Sept. 29 that bitcoin maintained a trend-defining support zone even as short-term profit-taking pressure increased.

The U.S. 30-year Treasury yield climbed to 5.58 percent, the highest since June 2002, before easing to 5.55 percent. The 10-year yield also rose to as high as 5.26 percent, the highest level since June 2007. Risk assets were pressured a day earlier by uncertainty over a U.S.-Iran war and concerns about global oil supply.

QCP Capital said geopolitical uncertainty, macroeconomic data risks and broad deleveraging could weigh on bitcoin's recent technical strength. It cited war-related developments and this week's U.S. macro data releases as short-term volatility factors. These include the August personal consumption expenditures (PCE) index due on Wednesday and the September nonfarm payrolls report due on Friday.

Bitcoin did not fall below $82,500. Trader Rekt Capital said that level was a key zone for maintaining an uptrend. He added that bitcoin was retesting as support the upper end of the $60,000 to $80,000 range where it spent much of 2026, and stressed that this retest was a trend-defining zone.

On-chain indicators showed profit-taking pressure becoming more pronounced. Glassnode said in a recent market report that bitcoin investors' realised and unrealised profits rose sharply last week, and that overall profitability at current prices had become excessively high. Net unrealised profit/loss (NUPL) hit 14.25 early this week, the highest since January.

The ratio of coins moved on-chain in profit to coins in loss also jumped to 1.4 last week from 0.8 the previous week. Glassnode said the trend strongly suggests a market environment dominated by profit-taking activity. That is the backdrop for expectations that bitcoin's rise could slow around $90,000.