Bitcoin Reverses Above $87,000, Most Altcoins Fall

Bitcoin's recent attempt to break above $87,000 ended in a sharp reversal on October 3, with the largest cryptocurrency settling near $84,500 after briefly topping $87,000 on softer-than-expected US labor market data.

The pullback dragged most major altcoins lower, though a handful of tokens including Quant and Midnight posted outsized gains, underscoring the uneven nature of the current market.

Bitcoin's market capitalization stood at $1.69 trillion, with its dominance over alternative cryptocurrencies climbing to 59%, according to data cited from the tracking platform.

The total crypto market cap declined almost 2% over 24 hours to $2.880 trillion.