Bitcoin Rejects $85K Resistance Amid Soft Data, Altcoins Gain Attention

The cryptocurrency market's recent attempt to rally was short-lived as Bitcoin (BTC) faced rejection near the $85,000 resistance level. On Monday morning, the asset recovered some ground and re-challenged this crucial mark after falling by roughly $2,000 within minutes last week.

This significant price drop occurred despite the release of soft PCE and jobs data, which were expected to boost risk-on assets. However, the crypto market failed to sustain a bullish momentum, with BTC's price currently hovering around $83,000.

Altcoins briefly stole attention as Bitcoin dominance faded, signaling short-term volatility for traders and DeFi/CEX market sentiment.