Crypto
Bitcoin Rally Faces Fresh Tests as BTC Slips Below $87,000
Bitcoin's recent rally above $87,000 is facing fresh tests as it slipped towards $85,000 on Tuesday. The brief climb above $87,000 put its latest recovery under pressure, after a sharp rebound from last week's low near $75,000.
The rebound carried BTC above the previous range and brought $85,000 into focus as an important level. Bitfinex analysts had identified that price as the first major test for the recovery.
Spot buying drove much of the move, but several indicators linked to sustained rallies remain weak. Trading volume has yet to show strong follow-through, while open interest remains relatively subdued.