Bitcoin briefly climbed to nearly $87,000 last week, coming within roughly $500 of the late-September swing high near $87,400, before retreating under selling pressure, according to CoinDesk. Analysts said the move extended an earlier rebound and marked BTC’s second failed attempt within a week to clear that late-September peak. In the earlier try, softer-than-expected U.S. inflation data helped lift Bitcoin to around $85,500, but that rally also faded within hours. The report added that weaker U.S. employment data has reduced pressure on the Federal Reserve to keep raising interest rates, offering support to risk assets. Analysts said a daily close above $87,000 could serve as an important signal that buyers are in position to break through the late-September high.
Bitcoin rose to nearly $87,000 last week, coming to within about $500 of the late-September high near $87,400 before pulling back as selling pressure emerged, according to CoinDesk.
Second failed push in a week
Analysts said the advance extended the prior rebound and marked BTC’s second unsuccessful attempt within a week to break above the late-September high.
In the earlier move, softer-than-expected U.S. inflation data helped push Bitcoin to around $85,500, though the price gave back those gains a few hours later.
Macro data remains in focus
The report said weaker U.S. employment data has eased pressure on the Federal Reserve to continue raising interest rates, which has supported risk assets.
A daily close above $87,000 could be an important signal that buyers may be able to break through the late-September high.
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