Bitcoin approached the $87,000 mark but then retreated below $86,000. According to CoinDesk, on Monday, Bitcoin rose by 1.5% and exceeded $86,000 due to weaker employment data in the U.S., which increased expectations for interest rate cuts and boosted global stock growth. The peak was around $86,950 – about $500 below the eight-month high of around $87,400. After that, Bitcoin lost about $1,000. As of Monday morning in Asia, it maintains a 1.3% increase over the last 24 hours.
This is the second attempt this week that stopped below the September high. Last Wednesday, Bitcoin surged to $85,500 after a soft inflation report in the U.S., but gave up the gains within a few hours. Dogecoin led the list with an increase of over 3%, while XRP, BNB, and ZEC rose by 1-2%. Ethereum and HYPE increased by less than 1%, while SOL and TRX remained unchanged. The soft employment data in the U.S. eased pressure on the Fed regarding further rate hikes. The yield on 10-year Treasury bonds fell by 2 basis points to 5.25%, remaining near a peak since 2002.
The Nasdaq 100 closed at a record high on Friday, the MSCI Asia Pacific index rose by 1%, and the Nikkei 225 gained 2.5%. Brent oil fell by 0.7% to about $101.50 per barrel after Saudi Arabia lowered prices for its benchmark grade for Asia. The dollar strengthened: the Bloomberg index rose by 0.4%, and the euro weakened to a low not seen since May 2025 amid news from Spain. Closing trading above $87,000 would be the first sign that buyers are capable of overcoming the September high.
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