Bitcoin Faces Resistance at $87,000 as Market Sees Mixed Performance
- Bitcoin fell by 1.2% to approximately $85,600 on Tuesday morning after being rejected from over $87,000 on Monday.
- This marks the third instance since September 23 where Bitcoin has been capped at the $87,000 level.
- Major altcoins like ether, XRP, SOL, and DOGE experienced declines between 1% and 2%.
- In contrast, ADA surged by about 11%, while GRT and NEAR saw gains of around 7% each.
- The total cryptocurrency market capitalization decreased to roughly $2.93 trillion, nearing resistance at $2.95 trillion.
Analysts note that Bitcoin has established a trend of higher local lows but lacks bullish momentum as it approaches a critical price triangle formed by resistance and support levels.
As Bitcoin struggles to break past the $87,000 mark, the overall market remains under pressure with a total valuation of about $2.93 trillion.(Source)
