Bitcoin rallied toward $87,000 on Monday but failed to hold the move, slipping back below $86,000 after approaching its late-September high. It was the second rally within a week to run into resistance near that level.
BTC climbed to just under $87,000 during early Asian hours, coming within roughly $500 of its eight-month peak. The cryptocurrency later pulled back to below $86,000 but was still 1.3% higher over the previous 24 hours.
DOGE was the best performer among major tokens, rising more than 3% to just under $0.10. XRP, BNB and ZEC each gained between 1% and 2%, while ether and HYPE advanced less than 1%. SOL and TRX showed little movement, according to CoinDesk data.
Bitcoin’s upward move started on Sunday and accelerated toward the end of the session. BTC broke above $86,000 and reached a high of just under $86,950 before reversing. The retreat has since erased approximately $1,000 from the peak.
The price action mirrors last Wednesday’s attempt to move higher. Bitcoin reached $85,500 after a softer U.S. inflation report but failed to sustain the rally and reversed within hours. The late-September high remains near $87,400.
Weaker U.S. employment figures released Friday reduced some expectations for further Federal Reserve rate increases. The benchmark 10-year Treasury yield fell two basis points to 5.25%, although it remained close to levels not seen since 2002.
Global equities continued to perform well. The Nasdaq 100 closed Friday at a record, while MSCI’s Asia Pacific index gained 1% and Japan’s Nikkei 225 advanced 2.5%. Brent crude slipped 0.7% to around $101.50 a barrel after Saudi Arabia cut prices for its benchmark crude in Asia.
The U.S. dollar also strengthened. A Bloomberg dollar gauge increased 0.4%, while the euro fell to its weakest level since May 2025 amid reports that Spain may call an early election.
Bitcoin’s next major test remains the $87,000 area. A daily close above that threshold would offer the clearest indication yet that buyers can overcome the late-September resistance near $87,400.
