Bitcoin Pares Back Gains After Crossing $87K — Market Talk

Bitcoin prices briefly rose back to the level they topped out at in last week's surge, but appear to have met resistance and are now paring gains. Bitcoin is now up 1.6% to $85,938 for the day, after topping out at $87,090 earlier. Analysts have identified $87,000 as a key resistance point for bitcoin, with a sustained rally seen as possible if the token can cross over $90,000. Bitcoin has been able to maintain its current levels despite the surge seen in Treasury yields — which is puzzling some analysts. "If a market is rallying on seemingly bad news, then there's something amiss," says James Stanley of StoneX in a note. Ethereum climbs 1%, and XRP is up 1.9%. ([email protected])