Analysis: BTC pulled back after rallying near $87,000, failing to challenge the September high in two attempts over a single week.

According to CoinDesk, Bitcoin briefly rallied to nearly $87,000, sitting just around $500 short of the interim high of approximately $87,400 established in late September, before facing selling pressure and pulling back. Analysis indicates that this rally extended Sunday's rebound, marking Bitcoin's second unsuccessful attempt within a week to break past the late-September highs. Previously, last Wednesday, U.S. inflation data coming in below expectations drove BTC up to around $85,500, though it retraced hours later. Weaker U.S. employment data has eased pressure on the Federal Reserve to continue raising interest rates, providing support for risk assets. Should Bitcoin record a daily close above $87,000, it could serve as a key signal for buyers aiming to break through the late-September highs.