Bitcoin Surges Past $87,000 as Institutional Demand Rises

Bitcoin (BTC) has entered its most successful month on a high note, surging past $87,000 after the release of weak US jobs data.

The asset's price was buoyed by softer inflation data and improved institutional demand, with trading volumes remaining weak.

However, some analysts suggest that stronger buyer participation is needed to confirm another major leg up for BTC.

One key obstacle in the way of further growth is the $87,000-$87,500 resistance level, which a decisive break above could open the door to a next big selling zone at around $95,000.