Bitcoin Hits Resistance at $87,000, Analyst Sees Buying Opportunity at $82,500

Bitcoin has reached resistance at $87,000, a price level that has capped its rise for over two weeks, according to analyst Ali Martinez. Martinez stated that whales sold more than 30,000 Bitcoin, limiting the rally and preventing a break above $87,000. This selling pressure has caused the cryptocurrency to lose momentum, and it may fall in the short term to $82,500, the lower end of the channel. If Bitcoin drops to $82,500 and whales begin accumulating again, it could signal a buy-the-dip opportunity and a rebound toward $87,000, Martinez said. The analyst noted that $87,000 has been a key price level for Bitcoin, and it will be crucial to watch how the market reacts to this level.