Bitcoin retreats from $87,000 peak after sharp 15% rally

For investors, the focus should now be on whether Bitcoin can hold the $82,000-$82,800 zone as support. It would be prudent to avoid chasing the sharp rally and use staggered entries with limited leverage, says analyst.

• Bitcoin peaked at $87,281, now trading at $85,631.47.
• Rally driven by improved sentiment and institutional demand.
• Crypto fear and greed index enters 'Extreme Greed' at 78.

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Bitcoin peaked just above $87,281 in early trading on September 22, but trimmed some of those gains to trade at $85,631.47 (09:46 IST), up 5.36 percent over the past 24 hours and a 10.28 percent increase over the week.

Bitcoin last reached the $88,000 mark in January 2026, when prices hovered in the $84,126—$97,000 range. However, it remains well below its record high of around $126,000 set in October 2025.

Bitcoin has been on an upward trajectory since falling to around $75,500 on September 16, gaining more than 15 percent since then. The rally comes amid improving macro conditions, stronger institutional demand and a technical breakout. Falling oil prices and easing long-term Treasury yields have also reduced inflation and liquidity pressures on crypto markets.