Bitcoin climbed close to $87,000 early Monday before retreating below $86,000, marking the second attempt in a week to break through its late-September high. The move came as softer U.S. jobs data supported expectations for lower interest rates and helped lift global equity markets.
According to CoinDesk, bitcoin reached a peak just below $86,950 after its advance accelerated late Sunday. It later gave up roughly $1,000, trading just under $86,000 during Asian morning hours. Despite the reversal, the cryptocurrency remained 1.3% higher over 24 hours at the time of the report.
The late-September peak, near $87,400, remains the key level in focus. Bitcoin came within approximately $500 of that high during Monday’s move, but sellers returned before the market could establish a sustained break above it.
Bitcoin’s second stalled advance
The latest rally follows another failed attempt last Wednesday. Bitcoin rose to about $85,500 after a softer U.S. inflation report, but surrendered those gains within hours. Monday’s price action therefore represented the second push in a week that stalled below the late-September level.
A daily close above $87,000 would provide the first indication that buyers had managed to move through the late-September high, according to the source report. Until then, the market’s advance remains close to, but below, that earlier peak.
Bitcoin’s rise took place alongside a broader improvement in risk assets. The Nasdaq 100 finished Friday at a record, while MSCI’s Asia Pacific equities index gained 1% and Japan’s Nikkei 225 advanced 2.5%.
Interest-rate expectations and wider markets
Softer U.S. jobs data released on Friday reduced some pressure on the Federal Reserve to continue raising interest rates. Interest-rate expectations can affect cryptocurrencies and other risk assets because they influence financial conditions and the relative appeal of investments that do not pay interest.
The 10-year U.S. Treasury yield fell two basis points to 5.25%. Even after the decline, it remained close to its highest level since 2002. The report noted that a further fall in the yield could help bring bitcoin’s eight-month high near $87,400 within reach.
Other markets also moved during the session. Brent crude fell 0.7% to about $101.50 a barrel after Saudi Arabia cut prices for its benchmark grade sold to Asia. The U.S. dollar strengthened, with a Bloomberg gauge rising 0.4%, while the euro fell to its weakest level since May 2025 amid reports that Spain was preparing for an early election.
Other cryptocurrencies and Moneyiar market data
Dogecoin was the strongest performer among the major cryptocurrencies cited in the report, gaining more than 3% to trade just below 10 cents. XRP, BNB and Zcash each rose between 1% and 2%. Ether and HYPE added less than 1%, while Solana and Tron were flat.
Moneyiar market data at 09:29 on October 5, 2026, showed bitcoin at $85873.766818289, up 0.74% over 24 hours and 3.73% over seven days. The data is time-specific, so it reflects a later market snapshot than the early Asian-hours trading described in the report.
Among the additional assets tracked by Moneyiar, NEAR Protocol traded at $5.0435575119, gaining 5.36% over 24 hours but losing 1.62% over seven days. Monad was at $0.0325392322, down 5.23% on the day and up 16.05% over the week. Ontology stood at $0.0604542957, up 0.76% over 24 hours and 7.84% over seven days.
The contrasting moves underline the central feature of Monday’s session: bitcoin was still higher overall, but its approach toward $87,000 was followed by a rapid pullback before it could clearly clear the late-September resistance level.
