Bitcoin Fails at $87K Again as Wall Street Hits New Highs
Sellers pushed Bitcoin down to $85,600 following its third failed attempt to clear $87,000 in two weeks.
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Key takeaways
- Bitcoin fell back toward $85,600 after getting rejected at $87,000.
- This is the third time sellers have blocked a breakthrough at $87,000 since Sept. 23.
- The Nasdaq closed at a record high while U.S. Treasury yields kept rising.
Bitcoin hit another wall at $87,000. Sellers stepped in fast, pushing the price back down to $85,600. That marks the third time this rally has stalled at that exact level since Sept. 23.
This retreat highlights an odd disconnect with traditional markets. While crypto traders ran into a ceiling, stock investors enjoyed another winning session. The Nasdaq closed at a fresh record high—even as U.S. Treasury yields kept climbing.
Three strikes at $87,000
Chart watchers have a very clear ceiling on their radar now. Every time buyers drive Bitcoin toward $87,000, quick profit-taking triggers a sharp reversal. That supply wall has held firm for nearly two weeks, locking price action in a tight range while traditional equities press ahead.
Why it matters
Rising Treasury yields paired with record stock prices put crypto in a tight spot. Higher yields offer guaranteed returns on safe assets, pulling liquidity straight out of digital markets. If Bitcoin keeps failing at resistance while broader markets print new records, buyers will likely sit on their hands until the market retests lower support levels.
Source: CoinDesk
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Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
