Bitcoin Fails to Hold Above $87,000 After Best Weekly Close in Eight Months
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05.10.2026 21:22
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2 min read
Bitcoin started the new week near $86,000 after its best weekly close in roughly eight months. On Sunday, BTC ended the week near $86,570, but another attempt to establish itself above $87,000 quickly ran into resistance.
According to QCP Capital, the nearest key level sits around $87,200. Above that is the roughly $87,570 mark — Bitcoin’s price at the start of 2026, which now also acts as a notable technical and psychological barrier. Once it clears that level, the next obvious target will be $90,000.
In trading on October 5, Bitcoin climbed above $87,000 but then fell back to the $86,000–87,000 range.
High Bond Yields Are Holding Back the Rally
The US bond market remains one of the pressure points. The yield on 10-year Treasuries is holding near 5.25%, despite weak US labor market data.
High yields on relatively safe government debt make riskier assets less attractive and make it harder for cryptocurrencies to keep rising. QCP notes that the odds of another Fed rate hike in October have fallen to about 22%, but that was not enough to fuel a sustained Bitcoin rally.
The next major event for the market will be the release of the minutes from the Fed’s September meeting. They could show how deep the divisions within the regulator are over further monetary tightening.
Buyers Are Turning More Cautious
Glassnode also paints a mixed picture. Bitcoin is holding on to most of its recent gains, and spot-market buyers ended last week with a positive balance, but demand has become less aggressive.
At the same time, profit-taking remains heavy, and inflows into US spot Bitcoin ETFs have slowed noticeably.
According to Farside Investors, the funds took in about $241 million in net inflows from September 28 to October 2. A week earlier, the figure was roughly $2.39 billion — almost ten times more.
For now, Bitcoin is effectively stuck between support around $85,000 and $83,000 and resistance at $87,200–87,600. QCP sees a close above that area as a condition for continuing toward $90,000, while losing $83,000 would noticeably worsen the short-term technical picture.
These are analysts’ scenarios, not a guaranteed price forecast.
