Bitcoin stabilizes above $82,500 support amid bond yield surge

Bitcoin held above $82,500 after early-week losses. It rebounded to $84,000. TradingView data showed BTC/USD trading in a narrow intraday range below $84,300 on Tuesday. Trader Rekt Capital identified $82,500 as essential to protecting Bitcoin's uptrend. Bitcoin faced pressure on Monday amid uncertainty over the US-Iran war and global oil supplies. The US 30-year bond yield reached 5.58%, its highest level since June 2002. It later eased to 5.55%. The US 10-year yield reached 5.26%, a level last seen in June 2007. QCP Capital identified war developments and upcoming US economic data as potential short-term volatility catalysts. The data include Wednesday's August Personal Consumption Expenditures index and Friday's September nonfarm payrolls report. Rekt Capital said Bitcoin was retesting the top of the $60,000 to $80,000 range as support. Glassnode warned that investor profit-taking was increasingly affecting Bitcoin's price momentum. Bitcoin's net unrealized profit/loss reached 14.25 at the start of the week, its highest reading since January. The ratio of coins moving onchain in profit versus loss rose from 0.8 to 1.4 last week. Glassnode said that increase strongly suggested a market dominated by profit-taking.