Bitcoin Rally Hinges on Breaking $87,000 Resistance Zone

Bitcoin has recovered to around $85,000 after a volatile week, but can it extend the rally and reach $90,000? According to CoinCodex, the current price of BTC is roughly $84,912, while the broader crypto market is modestly higher.

The short-term outlook for Bitcoin remains uncertain, with the cryptocurrency still below the recent swing high of $87,000-$87,300. However, the difference now is that Bitcoin has managed to hold most of its late-September gains despite elevated Treasury yields and a weaker U.S. jobs report.

ETF demand remains a strong argument for another leg higher, with U.S. spot Bitcoin ETFs attracting approximately $6.34 billion during Q3, including $2.65 billion in September. This surge in ETF inflows continues to provide a supportive backdrop for the bull case, even though daily flows remain volatile.

While macro conditions are less straightforward, with Treasury yields above 5%, the recent ETF inflow surge and institutional demand remain key factors supporting the rally. If BTC can establish itself above $85,000 and break the $87,000-$87,300 zone on stronger volume, the rally could extend toward $90,000, and a clean move through $90,000 would bring the psychological $100,000 level back into the conversation.