Bitcoin Rejected Again Near $87,000: Consolidation or Distribution?
- —The $86,700–87,000 zone has repeatedly capped BTC, with the latest rejection pushing it back to $85,500
- —US spot bitcoin ETFs took in $2.65 billion in September and another $102.7 million on October 1
- —BTC-denominated open interest has fallen nearly 20% since August as spot demand cools
- —September US jobs report showed just 29,000 new jobs, cutting October rate-hike odds from 70% to 20%
Why it matters: A convincing close above $87,000 would reopen the path to $90,000, while another rejection could signal that holders are distributing into strength.
Source: Crypto Economy