BTC price fights to reclaim 2026 open: Three things to know in Bitcoin this week

Bitcoin bulls persist in pushing the price toward the 2026 yearly high, with the 2026 resistance now the next major hurdle. Bitcoin (BTC) is close to a green candle on the 2026 yearly chart. The highest weekly close for Bitcoin since late January was $86,532 on Bitstamp, with brief spikes to $87,000 before failing to reclaim the yearly open at $87,570.

Liquidity drains keep price action limited, with short positions being liquidated near $85,500, while bid-ask walls thicken around the spot price, keeping volatility in check. CoinGlass data shows concentrations around $83,700 and the 2026 yearly open.

Analysts Rekt Capital sees $82,500 as the pivotal support level to prevent a return to the previous 2026 range of $60,000 to $80,000. A decisive break above $86,700 would open up higher range with $93,700 as its ceiling. With only a light week of macro data in the US, bond markets take center stage as traders discount the chances of the Federal Reserve raising interest rates. The 10-year and 30-year bond yields, previously at 5.34% and 5.69%, respectively, dipped slightly, ending at 5.25%.

The Federal Reserve's meeting minutes, published on Wednesday, revealed a 0.25% interest rate increase in the September FOMC meeting, with market expectations of further rate hikes waning. Analysts predict that the Fed will remain hawkish through the end of the year due to inflation concerns and volatile oil prices resulting from the Middle East conflict.

The upcoming Consumer Price Index (CPI) report on October 14 will be the next key inflation indicator, with the past three days of October typically being the weakest period for Bitcoin, averaging a 0.66% decline. However, Bitcoin has already defied the typical trend, gaining 1.4% in the first three days of October, with a 2.7% month-to-date upside.