Bitcoin has once again failed to sustain a breakout above the $87,000 level, capping a volatile stretch for the crypto market. Trading over October 5–6 remained highly sensitive to macroeconomic data and geopolitical headlines, with BTC's repeated rejection setting the tone.
Last week's PCE data showed slowing inflation and initially pushed bitcoin from $83,000 to $85,600 within minutes before it was rejected. A weaker-than-expected US jobs report later helped BTC top $87,000 on Friday, but bulls could not hold the level. Bitcoin crashed below $84,000, leaving nearly $600 million in liquidations. Over the weekend, it recovered to $85,000 and attempted another breakout on Monday morning; however, bears again stopped the advance at $87,000. BTC dipped to $85,400, rebounded, and later traded near $86,000. Its market capitalization was $1.720 trillion on CMC, with dominance at 59%.
Altcoin performance was mixed. Cardano's ADA was the standout, soaring almost 11% to $0.27. NEAR reclaimed the $5 level after a 5% daily increase, while HYPE added 3.5% and DOGE rose 3.75%. Other notable gainers included SUI, CC, SHIB, and ONDO, with ENA up 7.5%, VIRTUAL up 12%, and FET rocketing more than 15%. Exceptions included RAIN and QNT. Ethereum held above $2,700 and XRP traded above $1.50. On October 6, Pi Network's PI token remained stuck below the key $0.09 resistance after repeated rejections. FIL and ZRO led the top-100 altcoins with gains of 8–9%, BTW added 5%, and XMR returned to about $580. Meanwhile, BNB, SOL, DOGE, and LINK traded slightly in the red. Total crypto market capitalization stayed around $2.9 trillion.
