Bitcoin steadies above $82k, heads for weekly losses amid yield pressure

Bitcoin maintained a price above $82,000 on Friday, signaling an end to a three-week upward trend as concerns over rising yields and economic uncertainty dampened interest in cryptocurrencies. The leading digital currency climbed 0.5% to $82,665.7 by 09:39 ET (13:39 GMT) and was projected to lose around 4.5% throughout the week.

Similar declines were observed in broader crypto prices, with most altcoins trailing Bitcoin for the week. A robust third-quarter performance in the sector gave way to profit-taking through early-October. While increased buying activity by Strategy Inc (NASDAQ:MSTR) and support from U.S. regulatory actions did not curb Bitcoin's decline, surging yields and growing confidence in the Federal Reserve's future interest rate hikes, aimed at combating persistent inflation, played a significant role.

The September quarter's strong performance fueled expectations of a "uptober" trend, but traders now doubt whether such gains will materialize in 2026. Bitcoin's slump was further exacerbated by a substantial weekly outflow of over $700 million from spot Bitcoin ETFs, as reported by SoSoValue. Additionally, soaring oil prices added pressure to crypto markets.

Aside from Bitcoin, other major cryptocurrencies like Ether, XRP, BNB, Solana, Cardano, Dogecoin, and $TRUMP also experienced declines during the week.