Bitcoin climbed to nearly $87,000 on Monday, coming within about $500 of its late-September peak near $87,400 before giving back some gains.

  • The move marked Bitcoin’s second failed attempt in a week to break through the late-September high.
  • MSTR and CRCL gained around 3% in premarket trading, while COIN and BMNR rose roughly 2.5%.
  • MSTR was the only one of the four crypto-linked stocks with retail sentiment in the ‘bullish’ territory on Stocktwits over the past day.

Crypto-linked large-cap stocks including Strategy (MSTR), Coinbase (COIN) and Bitmine Immersion Technologies (BMNR) rallied in early morning trade on Monday after Bitcoin (BTC) came within about $500 of its late-September peak.

MSTR and CRCL rose about 3% each in pre-market trading. Meanwhile, COIN and BMNR gained about 2.5% each. On Stocktwits, only MSTR saw retail sentiment trending in the ‘bullish’ territory over the past day. COIN, BMNR, and CRCL all saw sentiment moving in the ‘bearish’ zone. 

MSTR stock retail sentiment on October 5 as of 6:25 a.m. ET | Source: Stocktwits

Bitcoin Rally Stalls Near $87,000

Bitcoin’s price edged up 0.8% in the last 24 hours, trading around $86,000. The cryptocurrency briefly climbed to almost $87,000 early Monday, coming within roughly $500 of its late-September peak near $87,400, before sellers pushed it back below $86,000.

It marks the second attempt in a week for Bitcoin to break through the late-September high. Last Wednesday, Bitcoin climbed to around $85,500 following a softer U.S. inflation report, only to give up the gains within hours.

Bitcoin price performance over the past month on October 5 as of 6:25 a.m. ET | Source: Koyfin

Among the largest cryptocurrencies by market capitalization, Dogecoin (DOGE) led the majors with a gain of more than 3% to trade just below $1.10. Ripple’s XRP (XRP), BNB (BNB) and Zcash (ZEC) each gained between 1% and 2%, while Ethereum (ETH) and Hyperliquid (HYPE) rose less than 1%. Solana (SOL) and TRON (TRX) were little changed.

How Is Retail Feeling About Bitcoin?

On Stocktwits, retail sentiment around Bitcoin shifted to ‘neutral’ from ‘bearish’ territory over the past day.

The move toward neutral sentiment came even as traders remained cautious about Bitcoin’s ability to clear the late-September high. One trader pointed to weakness across the weekly, monthly and three-month charts.

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Others were counting on Bitcoin’s historically strong October performance.

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Bitcoin’s price remains down by over 2% year-to-date, over 30% below its record high of over $126,000 seen in October last year. 

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