Bitcoin Struggles to Break Through $87,000 Resistance

Bitcoin (BTC) has once again faced resistance near the $87,000 mark, failing to sustain its upward momentum during the current Monday session. The cryptocurrency peaked at $86,996 earlier in the day, a level it has struggled to surpass since its rally on September 21. Previous attempts to breach this threshold, including a high of $87,249 on Friday and $86,792 on Sunday, ended in retreats.

The price action of Bitcoin has been largely range-bound between $82,000 and $87,000 since the September 21 surge, which saw a nearly 7% rise to an intraday high of $87,397 before closing at $86,594. Recent attempts to recover have been met with mixed results, with a notable dip on Wednesday, September 30, when BTC reached $85,613 but closed at $83,556.

Over the weekend, Bitcoin showed some positive movement, gaining 0.28% on Saturday and 2.08% on Sunday to settle at $86,507. However, the current session has seen a downturn, with BTC down 0.48% at $86,095. Support levels are identified around $82,000 and $84,000, with a break below these levels potentially pushing the price towards $80,000.