Bitcoin pushed close to $87,000 on Monday before sellers stepped in and drove the price back below $86,000. The move marked the second failed attempt within a week to clear the late-September peak.
BTC reached nearly $87,000 during the early Monday session, coming within around $500 of its eight-month high. The cryptocurrency subsequently slipped below $86,000 during Asian trading hours but remained up 1.3% over the past 24 hours.
DOGE outperformed other major cryptocurrencies, gaining more than 3% to trade just below 10 cents. XRP, BNB and ZEC rose between 1% and 2%, while ether and HYPE added less than 1%. SOL and TRX were largely unchanged, according to CoinDesk data.
Bitcoin’s rally gathered pace late Sunday, taking the asset above $86,000 and to a high just under $86,950. The subsequent reversal erased roughly $1,000 from that peak.
The latest move follows another failed breakout attempt last Wednesday, when bitcoin climbed to $85,500 after a softer-than-expected U.S. inflation reading. The gain quickly faded, with BTC giving up the advance within hours.
Friday’s weaker U.S. employment data provided some relief from expectations that the Federal Reserve would need to continue raising interest rates. The 10-year Treasury yield declined by two basis points to 5.25%, though it remained close to its highest level since 2002.
Risk assets elsewhere also moved higher. The Nasdaq 100 ended Friday at a record, while MSCI’s Asia Pacific equities index advanced 1% and Japan’s Nikkei 225 climbed 2.5%. Brent crude declined 0.7% to around $101.50 a barrel after Saudi Arabia reduced prices for its benchmark grade in Asia.
The dollar, meanwhile, gained ground. A Bloomberg index tracking the U.S. currency rose 0.4%, while the euro weakened to its lowest point since May 2025 following reports that Spain could hold an early election.
Bitcoin now faces a clear technical hurdle around $87,000. A daily close above that level would be the first indication that buyers have successfully pushed through the resistance established in late September.
