$87K Remains a Ceiling for Bitcoin as Stocks Hover Near All-Time Highs

Bitcoin retreated below $86,000 after failing once again to sustain a move above $87,000, highlighting continued selling pressure at the key resistance level even as U.S. stocks remained close to record highs.

BTC was trading around $85,600, down 1.2%, during Tuesday’s Asian morning session. The cryptocurrency had climbed slightly above $87,000 on Monday before reversing lower. It was the third rejection of the $87,000 area since Sept. 23.

The weakness was broad across major cryptocurrencies. BNB declined 2.5%, while ETH, XRP, SOL and DOGE each lost between 1% and 2%. ZEC and TRX were little changed, according to CoinDesk data.

Some altcoins moved against the broader trend. HYPE gained 3% to about $94, while ADA surged 11%. GRT rose 7% and NEAR advanced nearly 7%.

Despite bitcoin’s repeated failures at $87,000, its recent structure has improved. FxPro analyst Alex Kuptsikevich said BTC has developed “a trend of higher local lows” since the start of last week. However, buyers have not been able to build enough momentum to push through resistance.

Bitcoin is approaching the apex of a triangle pattern defined by horizontal resistance and an upward-sloping support line, Kuptsikevich said. A break in either direction could trigger increased volatility.

The overall crypto market capitalization stood at roughly $2.93 trillion, just below FxPro’s $2.95 trillion resistance level. Digital assets weakened even with U.S. equities holding firm and the dollar strengthening.

Stocks Strong, Bonds Under Pressure

The Nasdaq 100 closed at a record, while the S&P 500 finished less than 0.5% below its all-time high. MSCI’s Asia Pacific index also edged 0.1% higher.

The bond market presented a different picture. The 10-year Treasury yield rose one basis point to 5.32%, close to levels last seen in 2002. The two-year yield increased two basis points to 4.83%.

Billionaire investor Ray Dalio warned that the Treasury market could face greater vulnerability if demand from China and Japan declines.

Bitcoin’s repeated inability to clear $87,000 has made the level a critical near-term test. Each push toward the threshold has been met with enough selling to force the price back down.

For the bullish case to strengthen, buyers must absorb the supply around $87,000 and keep BTC above that level. A sustained breakout would signal that selling pressure has weakened and could leave bitcoin positioned to challenge its highest price levels in eight months.