Bitcoin holds near $85,000 as an 18-month dollar high caps the rally

Bitcoin was flat on Monday at $85,276, as a stronger US dollar and rising bond yields kept a lid on its rally. Cointelegraph reports that Bitcoin failed to push higher after its best weekly close in eight months, with resistance forming at the start of the US session.

Bitcoin

According to CoinGecko data at 17:17 UTC, Bitcoin was down 0.04% over 24 hours and up 2.33% over seven days. It traded between $85,010 and $86,949 in the past day. Volume reached $32.8 billion and its market value stood at $1,713.5 billion. See the BTC/USD chart.

Ether and the majors

Ether held near $2,697, little changed on the day. Most large coins slipped slightly. Cardano was the clear exception, rising almost 7%.

CoinDesk notes that ADA led gains in a narrow, range-bound market. Solana was the weakest of the group on the day. See the ADA/USDT chart.

Breadth and sentiment

Total crypto market value was $2.912 trillion, down 2.14% over 24 hours per CoinGecko. That drop is larger than the moves in the individual majors listed above. Bitcoin dominance stood at 58.7% and Ether dominance at 11.3%.

The Crypto Fear & Greed Index read 70 (Greed), up from 65 on Sunday. It has stayed in Greed for eight days but sits below the 74 readings of September 28 and October 1.

What moved the market

Dollar and yields. CoinDesk reports that the US dollar climbed to an 18-month high, with fiscal concerns in France and political uncertainty in Spain weighing on the euro. CoinDesk says the Dollar Index reached 102.53, its highest since April 2025. Our sister site covers the euro side in the dollar's three-week run and the EUR/USD fixing. Cointelegraph writes that Treasury yields at 5% threaten Bitcoin's extension of its best quarter since 2017, though weak US jobs data has narrowed expectations for another Fed hike in October.

Regulation. The CFTC is seeking public comment on a framework for a new federal license for crypto exchanges, with leverage offers as the trigger for oversight, according to Decrypt. CoinDesk adds that the two proposed rules still leave a gap for simple, direct spot trading.

Corporate treasuries. Decrypt reports that Strategy posted a $21 billion third-quarter gain, bought $29 million in Bitcoin and spent $176 million repurchasing STRC shares, with holdings at a record 848,000 BTC. Metaplanet sold 10,000 BTC and bought back 11,000, lifting its holdings to 44,000 BTC, per CoinDesk. On the Ether side, Bitmine bought $41 million more ETH, taking its stash past 6 million ETH, or 4.9% of supply, Decrypt reports.

What to watch next

• Fed in October. Cointelegraph and CoinDesk both frame the October Fed decision as a key test for Bitcoin, with rate-hike expectations narrowing after soft jobs data.
• CFTC comment period. Responses to the proposed exchange licensing framework, per Decrypt.
• Ethereum's Glamsterdam upgrade. CoinDesk's week-ahead preview says Ethereum is gearing up for it.
• US midterms. Prediction markets are drawing more media attention ahead of the November vote, Decrypt notes.