Bitcoin’s Rally Above $87,000 Faces Fresh Tests: Bitfinex Alpha

Bitcoin (BTC) slipped toward $85,000 on Tuesday after briefly climbing above $87,000, putting its latest recovery under pressure. The move came after a sharp rebound from last week’s low near $75,000, when BTC fell below its September trading range.

That recovery followed a period of weakness. According to the latest Bitfinex Alpha report, Bitcoin had spent much of September between roughly $77,100 and $81,300 before breaking lower.

The market then reversed sharply, with Bitcoin gaining 5.9% on September 18 as strong buying and ETF inflows pushed prices higher. Spot Buying Supports Rally The rebound carried BTC above the previous range and brought $85,000 into focus as an important level.

Bitfinex analysts had identified that price as the first major test for the recovery. Bitcoin later moved toward $87,000 before giving back some of its gains. Spot buying drove much of the move, but several indicators linked to sustained rallies remain weak.