Bitcoin Price Fails to Break $87K as CFTC Signals New Crypto Rules
Bitcoin rallied to an intraday peak of $86,969 before erasing most of the gains and returning to trade near $85,200 with a $1.71 trillion market cap. Key TakeawaysBitcoin faced rejection near $87,000 on Oct. 5, paring gains to trade at $85,200 with a $1.71 trillion market cap.The 24-hour price action triggered over $109 million in bitcoin position liquidations, led by $62 million in lost short bets.Analysts still eye “Uptober” gains as the CFTC opened a 60-day window for public input on new crypto rules. Bitcoin Rejection Near $87K Triggers Intraday Volatility Bitcoin wiped out early gains on Monday as the cryptocurrency again appeared to face rejection near $87,000 amid unusual volatility for a single 24-hour period. The topsy-turvy price action tempered market excitement sparked by the belief that October, historically a bullish month for bitcoin, will deliver even greater gains than August and September. Market data shows bitcoins price was hovering just above $85,200 on Sunday afternoon when a sudden rally pushed the price to $86,969, an intraday peak. Soon after reaching that mark, the price descended sharply and traded below $85,500 shortly after midnight. The cryptocurrency twice attempted another run at $87,000 but lost momentum before reaching its earlier peak. During bitcoins latest attempt,









