Sellers have turned Bitcoin away from the $87,000 mark for the third time in two weeks, sending the price back to roughly $85,600, according to CoinDesk data. The repeated failure to push through that resistance level comes as the Nasdaq Composite closed at a new record, reflecting strong risk appetite in stock markets. At the same time, Treasury yields kept climbing, suggesting that bond markets are pricing in expectations of persistent inflation or tighter monetary policy. The divergence between risk-on sentiment in equities and Bitcoin's inability to hold gains could signal that crypto traders are more cautious or that sellers are stepping in at a key technical level. No further price data was provided beyond the latest pullback.
Bitcoin fails to break $87,000 resistance for third time as Nasdaq hits record
BTC falls back to around $85,600; Treasury yields continue to climb, diverging from equity market strength
By LineZotpaper
Published
Read Time1 min
Bitcoin was rejected at the $87,000 level for the third time since September 23, pulling back to about $85,600, even as the Nasdaq Composite closed at a record high. Treasury yields continued their upward march, creating a mixed signal across major asset classes.
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Analysis
Why This Matters
- Bitcoin's repeated rejection at $87,000 suggests a formidable resistance zone; a break above could attract new buyers, while a sustained drop may reinforce bearish sentiment.
- The divergence between record Nasdaq highs and Bitcoin's stalled rally highlights differing risk appetites across crypto and equity markets.
- Rising Treasury yields are pressuring risk assets broadly; Bitcoin's response to this macro headwind will be closely watched.
Background
Bitcoin has been trading in a range since late September, with $87,000 emerging as a key technical resistance level. The asset has tested that level three times since September 23 but has failed each time. Meanwhile, the Nasdaq Composite has continued its rally to new highs, buoyed by strong tech earnings and AI optimism. Rising Treasury yields, however, are a competing force, often drawing capital away from speculative assets like cryptocurrencies.
Key Perspectives
Bitcoin bulls: The repeated tests of $87,000 indicate buying pressure is building; a breakout could follow if macro conditions ease or momentum returns. Bitcoin bears: Each rejection reinforces the level as a ceiling, and if Treasury yields keep rising, Bitcoin could see further downside toward $80,000 or lower. Equity market observers: The record Nasdaq suggests liquidity is ample, but the divergence with crypto may be a warning that risk-on sentiment is not uniform.
What to Watch
- Whether Bitcoin can finally close above $87,000 on strong volume, which would likely trigger bullish positioning.
- The direction of Treasury yields; a pause or decline in yields could remove headwinds for crypto.
- Any Fed commentary or economic data this week that shifts rate expectations, as that would affect both stocks and digital assets.
Sources
- Bitcoin keeps getting rejected at $87,000 as stocks hover near records — CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data