The Nasdaq hit a new all-time high, but BTC was turned back at the $87,000 mark for the third time.
Since September 23, BTC has climbed above $87,000 three times, only to be slapped back down by sellers each time. It fell 1.2% during today’s Asian session, returning to around $85,600. ETH followed suit, dropping to around $2,717; XRP and SOL were also down about 1%, while BNB fared worst, falling 2.5%. ADA, on the other hand, bucked the trend and gained 11%.
What’s going on: This rally has played out in a pretty counterintuitive way. Last week’s unexpectedly weak nonfarm payrolls report (29,000 new jobs, far below the expected 84,000) fueled expectations of “no rate hike in October” and sent BTC up to $87,000. But once the good news was priced in, selling pressure actually intensified. FxPro analysts pointed to the technical picture: BTC is nearing the apex of a triangle, with support rising steadily from below while the $87,000 ceiling remains firmly in place. “The closer it gets to the apex, the more volatile it becomes.” So a third rejection isn’t necessarily a bad sign: the low of each pullback by the bulls has been higher than the last, and each test uses up more of the sell orders above $87,000. But chasing the price before it holds above that level is like providing liquidity to trapped holders looking to sell.
Three scenarios + triggers:
1. Break above $87,000 on high volume: Sell orders are exhausted; look for an 8-month high. Trigger = daily close holding above the level + increased trading volume.
2. Continued consolidation: Range-bound between $85,000 and $87,000 while the market waits for direction from the FOMC minutes at 2 a.m. on October 8.
3. Break below rising support: Watch for a retest of $84,000. Trigger = daily close below the line connecting recent lows.
$BTC $ETH
#BitcoinMakesThirdAttemptAt87000
Data as of: 2026-10-06 06:30 UTC
Sources: CoinDesk, “BTC, ETH, SOL price news”; ChosunBiz
For informational purposes only; not investment advice.
Are you betting it breaks $90,000 first, or retests $84,000?
Since September 23, BTC has climbed above $87,000 three times, only to be slapped back down by sellers each time. It fell 1.2% during today’s Asian session, returning to around $85,600. ETH followed suit, dropping to around $2,717; XRP and SOL were also down about 1%, while BNB fared worst, falling 2.5%. ADA, on the other hand, bucked the trend and gained 11%.
What’s going on: This rally has played out in a pretty counterintuitive way. Last week’s unexpectedly weak nonfarm payrolls report (29,000 new jobs, far below the expected 84,000) fueled expectations of “no rate hike in October” and sent BTC up to $87,000. But once the good news was priced in, selling pressure actually intensified. FxPro analysts pointed to the technical picture: BTC is nearing the apex of a triangle, with support rising steadily from below while the $87,000 ceiling remains firmly in place. “The closer it gets to the apex, the more volatile it becomes.” So a third rejection isn’t necessarily a bad sign: the low of each pullback by the bulls has been higher than the last, and each test uses up more of the sell orders above $87,000. But chasing the price before it holds above that level is like providing liquidity to trapped holders looking to sell.
Three scenarios + triggers:
1. Break above $87,000 on high volume: Sell orders are exhausted; look for an 8-month high. Trigger = daily close holding above the level + increased trading volume.
2. Continued consolidation: Range-bound between $85,000 and $87,000 while the market waits for direction from the FOMC minutes at 2 a.m. on October 8.
3. Break below rising support: Watch for a retest of $84,000. Trigger = daily close below the line connecting recent lows.
$BTC $ETH
#BitcoinMakesThirdAttemptAt87000
Data as of: 2026-10-06 06:30 UTC
Sources: CoinDesk, “BTC, ETH, SOL price news”; ChosunBiz
For informational purposes only; not investment advice.
Are you betting it breaks $90,000 first, or retests $84,000?
