Bitcoin dropped 1.2% to approximate levels of $5,600 during Tuesday’s Asian morning trading hours following a rejection by sellers from just past $87,000 on Monday, representing the third occasion that this threshold has limited an upward move since September 23.
HYPE avoided the decline by posting a 3% increase to roughly $94, whereas BNB lagged behind with a 2.5% loss, and ether, XRP, SOL, and DOGE each experienced declines between 1% and 2%. Meanwhile, ZEC and TRX stayed level, according to market figures from CoinDesk. Outside of the primary digital assets, ADA surged 11%, GRT advanced 7%, and NEAR climbed nearly 7%.
Bitcoin has established a pattern of higher local troughs since the commencement of the previous week, although bullish market participants have struggled to maintain momentum, noted FxPro analyst Alex Kuptsikevich via an email communication directed to CoinDesk.
He further remarked that the asset price has drawn near the vertex of a triangular configuration shaped by a horizontal resistance level and upward-sloping support, suggesting that observers ought to anticipate heightened volatility if quotations break outside of this technical structure.
The cumulative digital asset capitalization contracted to about $2.93 trillion, resting just beneath the $2.95 trillion threshold identified by FxPro as a resistance barrier. This downward pressure transpired concurrently with a strengthening U.S. dollar and stable equity indexes.
Equities are positioned more favorably, as the Nasdaq 100 concluded trading at an all-time peak, the S&P 500 wrapped up within 0.5% of its record high, and the MSCI Asia Pacific benchmark advanced 0.1%.
Fixed-income assets persisted in their downward trajectory, with the 10-year Treasury yield adding one basis point to reach 5.32%, matching figures not observed since 2002, while the two-year yield ascended by two basis points to 4.83%.
In separate developments, billionaire investor Ray Dalio cautioned that the U.S. government debt market remains susceptible to a reduction in purchasing demand originating from China and Japan.
Every instance in which bitcoin has approached $87,000 has triggered a wave of selling pressure that pushes valuations back down. Overcoming this specific barrier necessitates buyers capable of absorbing the liquidation volume and sustaining bitcoin above $87,000, a development that would indicate exhaustion among sellers at that price point and open a pathway toward bitcoin’s peak valuations seen over the past eight months.
Originally published at https://www.coindesk.com/markets/2026/10/06/bitcoin-keeps-getting-rejected-at-usd87-000-as-stocks-hover-near-records.
