<\/p>\n
Bitcoin continued to lose momentum on Monday, cooling after a blistering rally in recent weeks, as a fresh bout of macro uncertainty weighed on risk assets.<\/p>\n
The original cryptocurrency fell as much as 2.3% to $82 568 before paring some losses. It remained below $83 000 in early morning trading in New York.<\/p>\n
Other digital assets also declined, with second-largest token Ether down as much as 1.9% and Solana falling 3.9%.<\/p>\n
The macro backdrop has weighed on cryptocurrencies. Crypto fell along with stocks and bonds after President Donald Trump rejected Iran\u2019s latest proposal to reopen the Strait of Hormuz, while oil extended its gains. The moves come as markets are also digesting the Federal Reserve\u2019s decision earlier this month to raise interest rates, with traders beginning to price a meaningful chance of another hike in October.<\/p>\n
The pullback follows a rally early last week that briefly pushed Bitcoin above $87 000, its highest level since January. Institutional demand also picked up, with Bitcoin exchange-traded funds attracting their largest weekly net inflows since the token reached a record above $126,000 last October.<\/p>\n
Still, some investors see Bitcoin\u2019s recent weakness as a pause after earlier strong gains, rather than an end to the positive momentum.<\/p>\n
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\u201cI don\u2019t think the rally lacks conviction just based on weakness over the last few days, which would be expected at some point given the strength of late,\u201d said Richard Galvin, executive chairman at crypto investment firm DACM.<\/p>\n<\/p>\n
US spot Bitcoin ETFs attracted about $2.4 billion in the week ended Sept. 25, their biggest weekly haul since the period that ended on Oct. 10, when inflows topped $2.7 billion. That came just ahead of a selloff that extended through much of 2026.<\/p>\n
The recent surge was enough to push the ETFs into positive territory for the year. After recording more than $5 billion in net outflows through the end of July, the funds have since reversed that trend and are now approaching $1 billion in net inflows for 2026.<\/p>\n
Strong quarter<\/p>\n
Bitcoin has been on a tear over the past month. The token has surged about 28% since Aug. 19, when the US Treasury said it would increase buybacks of long-dated bonds. Now it\u2019s on track for its best quarterly performance since the fourth quarter of 2024, when the reelection of Donald Trump, who ran on a crypto-friendly agenda, helped Bitcoin surge 47%.<\/p>\n
The move marks a substantial recovery from the first half of the year, although Bitcoin remains well below its October high. The token has risen over 40% from July through September so far, reversing a 14% loss in the previous quarter.<\/p>\n
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Bitcoin had been relatively resilient in the face of recent developments seen as potentially detrimental to the industry. Beyond the Fed\u2019s rate increase, the US Senate recently failed to advance the crypto-focused Clarity Act, legislation that was highly anticipated by crypto firms seeking clearer rules in the country.<\/p>\n
Bitcoin is also becoming more intertwined with the broader Treasury and liquidity environment. Higher Treasury yields \u2014 which are now higher than before the Aug. 19 buyback announcement \u2014 can make non-yielding assets such as Bitcoin less attractive, particularly when investors expect central banks to keep rates high.<\/p>\n
\u201cFor Bitcoin to break 2026 highs, it\u2019s likely that the broader macro environment needs to be favourable,\u201d said Damien Loh, chief investment officer at Ericsenz Capital.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #rally #wobbles #macro #risks #overshadow #ETF #demand<\/p>\n","protected":false},"excerpt":{"rendered":"
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