Bitcoin continues to struggle at the $87,000 level, falling to $85,600. On October 6, 2026, the asset lost 1.2% in value after sellers once again pushed it away from the specified level, marking the third time since September 23, 2026. Analysts indicate that Bitcoin is approaching the apex of a triangle formed by rising support and resistance at $87,000, which could lead to increased volatility. The total cryptocurrency market capitalization has decreased to around $2.93 trillion, despite a 11% price increase for Cardano (ADA) and major stock indices remaining close to record highs.
According to CoinDesk, the Nasdaq 100 closed at a record high, while Treasury yields continued to rise: the yield on ten-year bonds climbed to 5.32%, a level last seen in 2002, while the two-year yield stood at 4.83%. Concurrently, billionaire Ray Dalio warned of a potential decline in bond market demand from China and Japan.
The market has stabilized; however, Bitcoin faces a wave of selling each time it reaches the $87,000 mark, requiring buyers to absorb this pressure and maintain the price above this level to pave the way for the highest prices in eight months. "The price is approaching the apex of the triangle formed by horizontal resistance and rising support. We must be prepared for increased volatility if the price breaks out of this pattern,"– noted FxPro analyst Alex Kuptsikevich in a letter to CoinDesk.
This material is prepared solely for informational purposes and does not constitute financial advice or a recommendation.
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