Bitcoin is facing a key horizontal resistance level around $87,200, which it has repeatedly failed to break through in recent weeks. The cryptocurrency is currently trading at $85,468 according to CoinGecko. This resistance test comes days after Bitcoin broke above the $87,000 level following disappointing U.S. employment data showing only 29,000 jobs created in September and an unemployment rate of 4.2%. Positive funding rates on major perpetual futures exchanges such as Binance, OKX, and Hyperliquid indicate sufficient but moderate bullish demand, which could favor a breakout.
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