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Bitcoin Nears $87K as Crypto Market Gains

Bitcoin Nears $87K as Crypto Market Gains. Source: Edwin.images, CC BY-SA 4.0, via Wikimedia Commons

Bitcoin climbed close to $87,000 early Monday, putting the world’s largest cryptocurrency within roughly $500 of its eight-month high before giving back some gains during Asian trading.

Bitcoin reached nearly $86,950 after accelerating through Sunday, but later retreated to just below $86,000. Despite the pullback, BTC remained about 1.3% higher over the past 24 hours as buyers continued testing a key resistance zone.

Dogecoin led gains among major cryptocurrencies, rising more than 3% to just under $0.10. XRP, BNB and Zcash gained between 1% and 2%, while Ethereum and HYPE advanced less than 1%. Solana and TRX were largely unchanged.

Bitcoin’s latest rally marks its second attempt within a week to break through the late-September high near $87,400. Last Wednesday, BTC surged to around $85,500 following softer U.S. inflation data, only to surrender those gains within hours.

The cryptocurrency market received additional support after weaker U.S. employment data on Friday reduced pressure on the Federal Reserve to continue raising interest rates. The benchmark 10-year U.S. Treasury yield slipped two basis points to 5.25%, although it remained near its highest level since 2002.

Risk assets also strengthened globally. The Nasdaq 100 finished Friday at a record high, while the MSCI Asia Pacific equities index gained 1% and Japan’s Nikkei 225 advanced 2.5%.

Meanwhile, Brent crude oil fell 0.7% to approximately $101.50 per barrel after Saudi Arabia lowered the price of its benchmark crude grade for Asian customers.

The U.S. dollar strengthened despite lower Treasury yields. A Bloomberg measure of the currency gained 0.4%, while the euro dropped to its weakest level since May 2025 amid reports that Spain could be preparing for an early election.

For Bitcoin, the $87,000 level remains a critical technical threshold. A daily close above that mark could provide the first meaningful indication that buyers have enough momentum to clear the late-September resistance near $87,400 and potentially extend the cryptocurrency’s latest rally.

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