Bitcoin Holds Near $86K After Eight-Month High of $87,350
- —BTC hit $87,350, a 33-week high, before pulling back to about $86,000
- —MVRV rose to 1.62 from 1.19 on August 16, crossing its 365-day moving average
- —September gains stand at 10.9% after 4.8% in July and 25.2% in August
- —Analyst Ted Pillows sees resistance at $87,000-$88,000 and support at $79,000-$80,000
Why it matters: The MVRV breakout and a potential three-month winning streak point to an early bull phase, but the $87,000-$88,000 zone remains the key hurdle for bulls.
Source: CoinCentral