Bitcoin hits $87000 three times but fails, market awaits stronger buying
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Bitcoin has been blocked around $87000 for the third time since September 23rd. FxPro analyst Alex Kuptsikevich stated that BTC has formed a trend of local lows continuously rising, but bulls have not gained enough upward momentum. The total market value of the cryptocurrency market has fallen to about $2.93 trillion, the Nasdaq 100 index has reached a new closing high, the S&P 500 index is less than 0.5% away from its historical high, and the 10-year US Treasury yield has risen to 5.32%. If BTC wants to break through $87000, it needs enough buying to absorb the selling pressure around that price range.