Bitcoin Falters at $87,000 as Bullish Momentum Fades

Bitcoin's recent rally above $87,000 has faced fresh tests as the price slipped back toward $85,000 on Tuesday. The brief climb above $87,000 came after a sharp rebound from last week's low near $75,000.

The recovery followed a period of weakness, with Bitcoin trading mostly between $77,100 and $81,300 through September before breaking lower. However, the market then reversed sharply on September 18 as strong buying and ETF inflows lifted crypto markets and impacted trading on CEX and DEX venues, causing Bitcoin to gain 5.9% that day.

Bitfinex Alpha shows that this latest recovery is under pressure, with the price slipping back toward $85,000 after briefly climbing above $87,000.