BTC breaks resistance, eyes $85K–$95K range
Market overview
The crypto market continues its upward trajectory, gaining a further 3.6% to $2.90T over the past 24 hours. Since its low point in early August, market capitalisation has risen by 38%. On the other hand, following such impressive growth, the market has only just managed to reach the support zone where it had been trading from last November until the end of January this year. Interestingly, the performance of altcoins has been more varied than on Monday, with signs of short-term profit-taking in certain coins. The top performers were Dogecoin (+11.7%), VeChain (+6.8%) and Stellar (+6.4%). Declines were recorded by Avalanche (−7%), Tezos (−2.4%) and SushiSwap (−0.4%).
The sentiment index soared to 78 (extreme greed), its highest level since July last year. Earlier last week, the indicator remained in the upper half of the scale, having been in the lower half since October 2025. This marked shift in sentiment complements the strong upward momentum in cryptocurrency prices since mid-August.
Bitcoin rose above $87.3K overnight, having pulled back to $85.5K at the time of writing. As we had anticipated, the breakout above the $82K level, where resistance was encountered in May and August–September, triggered a sharp liquidation of short positions. The situation is now gradually returning to normal. Technically, BTC has the potential to rise as high as $94K, but we should be prepared for the leading cryptocurrency to spend several weeks in the $85K to $95K range, leaving a test of $100K until the end of the year.
News background
The crypto market gained ground against the backdrop of a sharp rise in the Nasdaq index. Falling oil prices and US government bond yields, rising global stock markets and optimism regarding US-China negotiations supported risk appetite.
Ethereum is showing signs of increased activity from large and long-term holders alongside the asset’s price rise, according to Santiment. The number of wallets with a non-zero balance has reached a record 207.17 million.
Strategy purchased bitcoins for the first time in three weeks, adding 950 BTC to its holdings; it now holds 846K BTC, purchased for $63.8 billion at an average price of $75.4K. Bitmine bought an additional 27,562 ETH last week, bringing the total amount of Ethereum in its reserves to 5.984 million coins. To reach its target of purchasing 5% of the total ETH supply, the company needs to buy a further 120,000 ETH.
Strive purchased 1,355 BTC last week for $107.7 million, bringing its Bitcoin reserves to 26,355 BTC.
Around 30 Ethereum treasuries have already accumulated 7.8 million ETH, worth approximately $21 billion. More than 100 corporate Bitcoin holders are holding 1.273 million BTC, worth $108.6 billion.
Strategy founder Michael Saylor stated that the crypto industry would fare much better under the regulations set by the SEC, the CFTC and the US Treasury.
In Bolivia, the official distributor of Japanese motoring giant Toyota has begun selling its cars for Bitcoin. The technical infrastructure for Bitcoin transactions is provided by the BitGo platform.
Summary: The crypto market has accelerated its growth: market capitalisation stands at $2.90 trillion, with extreme greed dominating sentiment. BTC is consolidating in the $85K–$95K range.
Author
Alexander Kuptsikevich, a senior market analyst at FxPro, has been with the company since its foundation. From time to time, he gives commentaries on radio and television. He publishes in major economic and socio-political media.
