Bitcoin Tests Resistance Near $87,400 as Weekly Trading Begins

EURUSD Chart by TradingView

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King Crypto tends to attract attention during quiet stretches of the calendar as much as during active ones. A weekend that extends a multi-week advance raises a familiar question: whether the move reflects genuine broadening demand or a temporary concentration of interest in the most liquid asset in the crypto space.

This weekend produced several developments at once. The trend is intact, participation across the broader crypto market remains unsettled, and a new category of regulated leverage product now sits closer to the market's edge. Early trading will begin sorting through which of those threads carries the most weight.

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Bitcoin Tests Key Resistance Near $87,400

The U.S. Securities and Exchange Commission (SEC) approved Cboe BZX's proposal on October 2 to list and trade shares of a 3x Bitcoin exchange-traded product from Volatility Shares. According to the order, the product will seek three times the daily performance of a benchmark built from first- and second-month Bitcoin futures, before fees and expenses. It is a futures-based daily leverage vehicle, not a fund that owns spot Bitcoin.

The distinction matters because approval broadens the ways traders can take amplified exposure without creating direct spot demand. The order does not establish that the product has launched, attracted assets or contributed to Bitcoin's weekend rise. The decision expands the regulated product menu while the underlying market sends a mixed participation signal.

Bitcoin Holds Above Key Moving Averages

Data provided by TradingView placed BTC/USD at $85,840 at the time of writing. TradingView's weekly performance field showed BTC/USD up 1.76%. Price remained above the 20-day simple moving average at $83,369 and the 50-day average at $79,485, keeping the daily structure constructive. The session range ran from $85,384 to $86,996 before pulling back to the mid-$85,000s.

BTC/USD 1-day chart. Source: TradingView

Coinbase's completed UTC candles show that the week's progress was uneven. BTC opened September 28 at $84,463 and closed October 4 at $86,507, a gain of 2.42%. The full seven-day range stretched from $82,510 to $87,249. Bitcoin tested the lower end early, recovered, and reached the weekly high on Friday before giving back much of that session's advance. It then moved higher again over the weekend.

The completed Sunday candle supplied the clearest late push. BTC opened at $84,742, traded as high as $86,793 and closed at $86,507, a 2.08% gain. That close left Bitcoin near the upper portion of the week's range, though still below Friday's $87,249 peak. The $87,250–$87,400 resistance area remained uncleared.

The first technical test is whether BTC can hold the mid-$86,000s as weekday liquidity returns. A move through roughly $87,250 to $87,400 would take price above the two recent highs and show that buyers can extend the weekend move. Failure there would leave Bitcoin consolidating beneath resistance, much as it did after the earlier September advance.

On the downside, the 20-day average near $83,369 sits close to several recent closes and below Thursday's low at $83,107. That area offers a more useful trend test than a small retreat from Sunday's close. A move toward it would still leave BTC above the 50-day average, but it would remove much of the distance created by the weekend gain. The weekly low at $82,510 remains the deeper reference beneath it.

CoinMarketCap's rolling seven-day snapshot showed Bitcoin up 2.69% over that period and 0.88% over 24 hours, with roughly $24.83 billion in reported 24-hour volume. Total crypto market capitalization stood near $2.93 trillion, up 0.65% over 24 hours. Bitcoin dominance was 59%, up 0.1 percentage points over the latest 24-hour period. Among the top 100 assets by market cap, 50 were positive over seven days and 50 were negative.

The latest U.S. spot Bitcoin ETF data from Farside Investors shows a five-session net inflow of $241.1 million across September 28 through October 2. Four of the five days were positive. The exception was a $148.7 million outflow. The final session, October 2, added $189.9 million.

Why the Broader Market Has Yet to Confirm Bitcoin’s Move

The current breadth count leaves the picture unresolved. With 50 of the top 100 assets positive and 50 negative over seven days, the broader market offers no clear confirmation in either direction.

Monday's intraday behavior already showed that tension. BTC reached $86,996 before retreating toward $85,840, suggesting that the resistance zone near the recent highs is active and that buyers have not yet absorbed it.

The newly approved leveraged product has a tightly defined objective: three times the daily change in a futures benchmark, before costs. That creates a faster trading surface around Bitcoin, but it says nothing about the direction traders will choose or the amount of capital the product may attract. More available leverage can support exposure, hedging or short-term speculation. Approval is a market-structure development, not a directional signal.

Spot ETF flows over the five sessions were net positive, but the single $148.7 million outflow is a reminder that institutional positioning is not uniformly additive. Large single-day redemptions can offset several days of moderate inflows, and the net figure reflects both.

What Could Support Another Test of $87,400

Looking at the other side of the coin, if Bitcoin holds above its 20-day average while breadth turns positive, the weekend gain could mark an early stage of a broader move rather than a consolidation at range highs. An even split across the top 100 leaves room for participation to strengthen without requiring Bitcoin to wait for the entire market.

In that reading, the resistance zone near $87,250 to $87,400 is a short-term friction point rather than a ceiling. A second attempt that holds through weekday trading would look different from the weekend push that first reached $86,996. The constructive daily structure and positive five-session ETF flows give that scenario some underlying support, while the even breadth count leaves confirmation open.

What to Watch as Bitcoin Enters the New Trading Week

Bitcoin enters the week with its trend intact, the broader market evenly divided, and its nearest resistance still close enough to matter. The focus is now on whether Monday's volume turns the weekend advance into something more durable or leaves price consolidating below $87,250 is the live question.

The leverage surface around Bitcoin is expanding through regulatory channels. Time will tell if the underlying market is broad enough and sustained enough to make use of it – is a question the week has only just begun to answer.

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