TLDR
- Bitcoin hit $85,500 after a cooler U.S. inflation report, then fell back to $83,700.
- Treasury yields stayed near their highest levels since 2002, limiting the rally.
- Whale wallets holding 10-10K BTC added 41,025 BTC in 10 days, per Santiment data.
- Analyst Ted Pillows flagged a possible drop into the high $70,000s before a new leg up.
- Ether is on pace for a near 70% third-quarter gain, while XRP is up over 40%.
Bitcoin rose 0.4% to just above $83,700 on Thursday morning in Asia. The move came a day after a softer-than-expected U.S. inflation report pushed the price as high as $85,500.
The August PCE report showed prices up 3.4% from a year earlier. Core prices, which exclude food and energy, rose 3.0%.
Dan Khus, chief analyst at LVRG Research, said the data lowered the odds of another Fed rate hike in October. He said markets now see December as the more likely time for the next move.
“Crypto markets took that as a relief signal,” Khus said. Bitcoin jumped back above $85,000 as bond yields slipped.
The gains did not last. Late trading on Wall Street erased most of the move.
Yields Stay Elevated Despite Cooler Inflation Data
The 10-year Treasury yield traded around 5.28%, close to Wednesday’s peak. The 30-year yield steadied at 5.62% after touching its highest level since 2002.
Oil prices fell, which helped pause the bond selloff. The dollar strengthened against other currencies.
K33 analyst Vetle Lunde said surging yields are “pushing investors away from risk.” He added that bitcoin continues to consolidate after posting its highest weekly close since January.
Other coins moved in a mixed pattern. HYPE led gains, up 3% to about $89. DOGE rose nearly 2% to just under 10 cents.
Ether, BNB, TRX and ZEC each added less than 1%. XRP held flat at $1.50, while SOL slipped nearly 1% to just under $119.
Analyst Ted Pillows pointed to a chart pattern from early 2023. He said bitcoin saw a sharp correction back then after confirming its cycle bottom, and a similar setup could send the price into the high $70,000s before the next leg up.
This could be a possible scenario for Bitcoin.
The fractal looks very similar to early 2023, when BTC had a sharp correction after confirming the cycle bottom.
This time, we could see a drop into the high $70,000s before the next leg up. pic.twitter.com/rl6OGFzGhx
— Ted (@TedPillows) September 30, 2026
Whale Wallets Keep Buying as Retail Stays Flat
Santiment Intelligence tracked activity among mid-sized bitcoin holders. The firm reported that wallets holding between 10 and 10,000 BTC added 41,025 BTC over 10 days, lifting their combined balance to 13.64 million BTC, or 67.93% of total supply.
🚨 Bitcoin’s Key Stakeholders Accumulate 41K BTC as Retail Holds Flat
🐳 Bitcoin’s key stakeholder tier is accumulating again. Wallets holding 10-10K BTC added 41,025 BTC in just 10 days, lifting their balance to 13.64M BTC, or 67.93% of the entire supply.
📈 These whales and… pic.twitter.com/pCPar1TgSE
— Santiment Intelligence (@SantimentData) September 29, 2026
Santiment said this group is back to its highest holdings since the mid-August rally. The smallest retail wallets, those under 0.01 BTC, mostly stayed flat during the same period.
Iliya Kalchev, an analyst at Nexo Dispatch, said some profit-taking is showing up elsewhere in the market. He noted that seven-day altcoin inflows to exchanges reached their highest level since October 2025.
Ether traded around $2,700 and is on course for a near 70% gain this quarter. XRP is set to finish the quarter more than 40% higher despite its recent dip to $1.50.
Tech stocks carried a similar risk-on mood into Asian trading. Japan’s Nikkei jumped 2.7% and South Korea’s Kospi rose 1.2% after Micron Technology issued an upbeat forecast.
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