Bitcoin posted its highest weekly closing price in eight months, but failed to extend gains after U.S. markets opened.

On Oct. 5 (local time), Bitcoin moved around $86,000 shortly after Wall Street opened, Cointelegraph reported. It failed to break above about $86,500, the weekly open, and was capped by short-term resistance.

Last week’s weekly close was the highest level since late January 2026, but the market reacted more sensitively to macro factors than to a breakout. The U.S. 30-year yield rose above 5.67 percent again, leaving it just 2 basis points below last week’s 24-year high. The 10-year yield also climbed to 5.31 percent.

This rate burden was cited as a factor limiting gains across risk assets. QCP Capital said bond markets did not calm even though recent U.S. employment data came in somewhat dovish. It said high oil prices and long-term yields continued to limit upside momentum across risk assets despite employment data that could be interpreted as dovish.

U.S. stocks started relatively strongly. The S&P 500 and the tech-heavy Nasdaq Composite opened up 0.5 percent and 0.7 percent, respectively. The market is reflecting the possibility that the U.S. Federal Reserve may stop raising rates at the Oct. 28 Federal Open Market Committee meeting.

Bond market instability is also increasing the importance of Fed communications. Deutsche Bank analysts said the September FOMC minutes due on Oct. 8 could have a bigger impact than usual. They said an unstable bond market is making upcoming U.S. data and Fed messaging particularly important, and that the key will be how the committee views the current tightening phase and the neutral rate in the minutes.

Bitcoin’s price moved in a narrow range without establishing a clear direction. The market views $87,570, the 2026 annual open, as a psychological resistance level. Compared with mid-September, when Bitcoin regained $87,000 for the first time in eight months, some assessments said buyers’ dominance has weakened somewhat.

On-chain analytics firm Glassnode assessed that aggressive upward momentum has eased. It said the move showed aggressive upside momentum was moderating without signals of an immediate trend reversal or structural exhaustion. It added that September’s gains are still holding, but profit-taking pressure remains strong.

Interest is also focused on long-term holders’ supply above $85,000. In the near term, attention is expected to focus on how Bitcoin digests U.S. rates, Fed messaging, and resistance around $86,500 and $87,570.