- Why Does Bitcoin Keep Rejecting $87K Even Amid Continued Corporate Buying?
- Corporate BTC USD Buying is Real, but Here is Why Funding Matters
Bitcoin (BTC USD) fell about -0.5% to about $85,800 after sellers rejected a move above $87,000 for the third time since September 23. The setback came as Strategy bought 334 BTC and Strive added 2,000.
This creates a clear contrast: corporate accumulation continues, but Bitcoin’s price has not yet turned that demand into a confirmed breakout.
Those purchases matter as evidence that both companies are still directing capital toward Bitcoin. They do not guarantee that enough buyers will step in at $87,000 to absorb the sellers waiting there.
The immediate test is technical; the larger question is whether corporate buying can persist without adding financing and shareholder risks.
Why Does Bitcoin Keep Rejecting $87K Even Amid Continued Corporate Buying?
BTC USD hit resistance just above $87,000 on October 5 and traded around $86,000 on the morning of October 6. This level has capped rallies multiple times since September 23, indicating a significant resistance zone. Notably, Bitcoin has formed higher local lows, suggesting that buyers are stepping in, but it hasn’t generated enough momentum to break through the resistance.
FxPro analyst Alex Kuptsikevich noted that Bitcoin is nearing the apex of a triangle pattern, which could lead to increased volatility, although it doesn’t predict the direction of the breakout. Meanwhile, the overall crypto market dipped to approximately $2.93 trillion, just below a resistance level identified at $2.95 trillion.
While the Nasdaq 100 hit a record and the S&P 500 neared an all-time high, Bitcoin faced pressure as interest rates climbed slightly. Other major cryptocurrencies also struggled, with Ethereum, XRP, Solana, and Dogecoin falling 1-2%, while ADA gained 11%. The market reflects a mix of constructive short-term signals and ongoing resistance, so traders need confirmation through price action.
EXCLUSIVE: Trade Cardano and Earn $10 USDC
Corporate BTC USD Buying is Real, but Here is Why Funding Matters
Strategy and Strive recently acquired 2,334 BTC USD, signaling corporate demand but not necessarily indicating that market selling has ceased. Strategy’s purchase of 334 BTC brought its total to 848,000 BTC, funded by approximately $28.7M from Class A common stock sales. This financing model highlights that increasing Bitcoin holdings may dilute existing shareholders.
Strive’s purchase of 2,000 BTC raised its holdings from 27,462 to 29,462 BTC, reported at around $169M, primarily funded through its Variable Rate Series A Perpetual Preferred Stock (SATA). This structure prioritizes investor dividends and adds complexity to Strive’s Bitcoin strategy.
Additionally, Strive has a $500M facility for possible SATA repurchases, which could affect future financing costs. The different funding approaches affect dilution and cash reserves. Consequently, buying shares in a Bitcoin treasury company carries different risks than holding BTC directly, as share prices can be influenced by financing decisions and corporate structure.
EXCLUSIVE: Earn $50 With EdgeX and Enter $300K Prize Draw
DISCOVER: 15+ Upcoming Coinbase Listings to Watch in 2026
Follow 99Bitcoins onXFor the Latest Market Updates and Subscribe onYouTubeFor Daily Expert Market Analysis.
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Follow 99Bitcoins on your Google News Feed
Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now!
Subscribe now
In This Article
- Why Does Bitcoin Keep Rejecting $87K Even Amid Continued Corporate Buying?
- Corporate BTC USD Buying is Real, but Here is Why Funding Matters
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
