Bitcoin Nears $87K as Bulls Take Aim at September High

05. Oct 2026 Posted by Bailey S. on News

Bitcoin climbed close to $87,000 early Monday, coming within roughly $500 of its eight-month peak before giving back some of its gains. The cryptocurrency traded just below $86,000 during Asian morning hours, still up around 1.3% over the past 24 hours.

Dogecoin was the strongest performer among major cryptocurrencies, rising more than 3% to approach $0.10. XRP, BNB and Zcash gained between 1% and 2%, while Ether and HYPE posted smaller increases. Solana and TRON were little changed.

Bitcoin's latest rally gathered momentum throughout Sunday before accelerating later in the session. The move pushed BTC above $86,000 and to a high of almost $86,950 before sellers stepped in, leaving the asset about $1,000 below its peak.

The move marks Bitcoin's second attempt in less than a week to break through the late-September high around $87,400. A previous rally last Wednesday lifted BTC to roughly $85,500 following weaker-than-expected U.S. inflation data, but the gains quickly faded.

Recent economic data has provided some support for risk assets. Softer U.S. employment figures released Friday reduced expectations for further Federal Reserve rate increases. The 10-year Treasury yield slipped two basis points to 5.25%, although it remains near its highest level since 2002.

Equity markets also continued higher. The Nasdaq 100 ended Friday at a record level, while MSCI's Asia Pacific index gained 1%. Japan's Nikkei 225 advanced 2.5%.

Oil prices moved lower, with Brent crude falling 0.7% to around $101.50 per barrel after Saudi Arabia reduced prices for its benchmark crude sold into Asia.

The U.S. dollar, meanwhile, strengthened. A Bloomberg measure tracking the greenback rose 0.4%, while the euro fell to its lowest level since May 2025 amid reports that Spain could face an early election.

Bitcoin now faces a key technical test. A daily close above $87,000 would give bulls their clearest signal yet that the market can break through the late-September peak and push toward new highs.