The digital asset regained ground on Oct. 1 following a decline in US government debt rates. Bitcoin returned to $85,000 after the 10 year US bond yield fell to 5.21%, recovering from a period of volatility that saw the price peak at $85.5K on Sept. 30 before giving up its gains. That previous rally was driven by U.S. Personal Consumption Expenditures inflation data reaching its lowest level in six months.

Glassnode identifies $84,000 as critical support, noting that if this level holds, the asset has a path toward its next resistance point at a mean MVRV price of $96.7K. Support is further established at the True Market Mean of $77K. Prediction markets at Kalshi currently estimate a 36% probability that Bitcoin will reach $100,000 by the end of the year.