Bitcoin (BTC) faced rejection at $28,000 after the Oct. 5 Wall Street open, as bulls struggled to match levels from earlier in the week. The market dipped up to $700, or 2.5%, after encountering issues just above the $28,000 mark. On-chain monitoring resource Material Indicators was not surprised by the downturn, and the chain of events could still repeat. Some analysts remain optimistic, with Michaël van de Poppe, founder and CEO of trading firm MN Trading, describing Bitcoin as "very much ready" to tackle $30,000 resistance.