Bitcoin $87K Resistance Test: Institutional Plumbing Over Speculative Hype
The crypto market entered October with Bitcoin testing $87,000 behind renewed institutional demand and infrastructure developments, including BNY Mellon-Kraken integration talks and SEC custody rule proposals. In contrast, Ethereum struggled to maintain momentum above $2,700 despite technical updates like the Glamsterdam testnet upgrade. Meanwhile, the shutdown of Layer-2 network Blast highlighted growing market pressure for economic sustainability over speculative hype.