Bitcoin Stays Rangebound as Rising Yields Test ETH, XRP, Dogecoin Strength

Bitcoin continues to trade in a narrow range as October rate hike odds plummeted to 30%.

Notable Statistics:

• Coinglass data shows 70,853 traders were liquidated in the past 24 hours for $193.49 million.       
• SoSoValue data shows net outflows of $148.7 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ETFs saw net outflows of $59.6 million.
• In the past 24 hours, top gainers Bitway, Stacks and Midnight.

Notable Developments:

Trader Notes:

Analyst Benjamin Cowen admits in a podcast that he did not expect Bitcoin to break above the $83,000 level but says holding the former high as support would make this cycle look very different from the typical Q4 weakness seen in midterm years.

Cowen highlighted an unusual relationship between Bitcoin and long-term Treasury yields since 2025. Since 2025, BTC has often performed relatively well while long-term yields rise.

Rather than weakening as yields rise, Bitcoin has recently tended to struggle when yields begin falling amid growing concerns about economic growth.

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