Bitcoin continued its downward trajectory on Monday, September 28, 2026, as renewed geopolitical tensions and rising U.S. interest rate expectations dampened investor sentiment, according to a report by Joseph Wilkins.
The flagship cryptocurrency dropped 2% during early London trading to change hands at $82,903. Earlier in the session, the digital asset touched a one-week low of $82,773. The ongoing slide follows a period last week that briefly lifted Bitcoin above $87,000, meaning the token is now retracing a portion of those recent gains.
Geopolitical Concerns and Interest Rate Pressures
Market pressures have intensified following reports regarding international conflicts. Last week, President Trump rejected an Iranian proposal for a seven-day ceasefire, informing aides that he anticipates resuming the bombing of Iran following the November midterms, as reported on Friday by the Wall Street Journal. Market participants fear that any renewed conflict could lead to higher interest rates, which continues to weigh heavily on the non-yielding token.
Despite the downward movement, Bitcoin has demonstrated relative resilience following a significant spike in U.S. Treasury yields last week. Currently, financial markets are pricing in a 68% probability that the Federal Reserve will implement a further 25-basis-point interest rate hike during its October meeting.
Analyst Outlook on Market Accumulation
While the cryptocurrency has retreated from its previous highs, certain market experts do not anticipate a total reversal of last week’s positive momentum. Weighing in on the price action, Colin Basco of Coinbase Institutional wrote in a note, We would treat a retracement toward $80,000 as an accumulation opportunity rather than a failure of the breakout,
addressing the digital asset’s recent performance.
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