Bitcoin rally stalls near eight-month high as crypto gains lose momentum
Crypto markets extend a weekend advance into Monday, pushing bitcoin to within roughly $500 of its late-September peak before the move fades. The pullback marks a second failed attempt in a week to break decisively above the $87,000 area, even as broader risk assets continue to rise.
Highlights
- Bitcoin peaks just under $86,950 early Monday before reversing below $86,000, stalling for the second time in a week near the $87,400 resistance.
- DOGE leads major tokens with over 3% gains, while XRP, BNB, and ZEC rise 1–2% and ether and HYPE climb less than 1%.
- Softer U.S. jobs data lowers pressure on Fed rate hikes, sending the 10-year Treasury yield down to 5.25% and pushing the Nasdaq 100 to a record close.
Price action tests resistance
As reported by CoinDesk, bitcoin rises to just under $87,000 early Monday before reversing to below $86,000 during Asian morning trading, while still holding a 1.3% gain over the past 24 hours.The advance builds through Sunday and accelerates late in the day, lifting bitcoin above $86,000 to a peak just shy of $86,950. It then gives up about $1,000 from that high.
The move is the second rally in a week to stall below the late-September peak near $87,400. Last Wednesday, bitcoin jumped to $85,500 after softer U.S. inflation data and surrendered those gains within hours. A daily close above $87,000 is seen as the first sign that buyers can push through the late-September high.
Macro backdrop supports risk assets
DOGE leads major tokens with a gain of more than 3%, trading just under 10 cents. XRP, BNB and ZEC add between 1% and 2%, while ether and HYPE rise less than 1%; SOL and TRX remain flat.Softer U.S. jobs data on Friday eases some pressure on the Federal Reserve to keep raising rates. The 10-year Treasury yield falls two basis points to 5.25%, although it remains near its highest level since 2002.
Equity markets also extend gains, with the Nasdaq 100 closing at a record on Friday, MSCI's Asia Pacific equities index rising 1% and Japan's Nikkei 225 gaining 2.5%. Brent crude slips 0.7% to about $101.50 a barrel after Saudi Arabia cuts prices of its benchmark grade to Asia, while the dollar strengthens, with a Bloomberg gauge of the U.S. currency up 0.4% as the euro falls to its weakest level since May 2025.
In our earlier coverage of rising U.S. Treasury yields and mounting debt-servicing costs, we examined concerns that higher borrowing expenses could eventually feed a self-reinforcing debt spiral. We also noted why analysts do not see an immediate crisis, citing the long average maturity of government debt and the dollar’s reserve-currency role as key stabilizers.
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