Bitcoin keeps getting rejected at $87,000 as stocks hover near records — SkimNews
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- Bitcoin fell 1.2% to about $85,600 after sellers rejected a push above $87,000 — the third time that level has capped a rally since Sept. 23.
- FxPro analyst Alex Kuptsikevich said Bitcoin is approaching the apex of a triangle formed by horizontal resistance at $87,000 and rising support, warning of increased volatility on breakout.
- Altcoins diverged sharply: Cardano's ADA jumped 11%, GRT gained 7%, NEAR rose nearly 7% and HYPE climbed 3%, while BBN dropped 2.5% and ETH, XRP, SOL and DOGE each fell 1–2%.
- Total crypto market cap slipped to about $2.93 trillion, just under the $2.95 trillion resistance level FxPro is tracking.
- U.S. equities moved in the opposite direction: the Nasdaq 100 closed at a record, the S&P 500 finished within 0.5% of its all-time high, and the MSCI Asia Pacific gauge rose 0.1%.
- Treasury yields kept climbing — the 10-year rose 1 basis point to 5.32% (last seen in 2002) and the 2-year gained 2 basis points to 4.83% — as billionaire Ray Dalio warned the Treasury market is vulnerable to a pullback in demand from China and Japan.
Why it matters: Three rejections at $87,000 in roughly two weeks have hardened that level into a clear technical ceiling, with a tightening triangle pattern now approaching its apex — a setup Kuptsikevich says brings elevated volatility. The simultaneous climb in 10-year yields to 5.32% alongside Dalio's warning about weakening Treasury demand from China and Japan frames a fragile macro backdrop for risk assets.
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