Bitcoin rises above $87,000 on futures buying

That buildup increases the market’s sensitivity to headlines and volatility. Bitcoin was last trading at $83,729.51 in the supplied price data, after touching a high of $87,265.49, while its 14-day relative strength index at 67.8 pointed to momentum that is still firm but approaching overbought territory. The 50-day moving average at $75,316.85 and the 200-day moving average at $70,927.54 remain well below spot, underscoring how far the latest leg has run.

Ether, Solana, XRP and Cardano also gained 5% to 10%, while dogecoin jumped 14%, a sign that risk appetite is broadening beyond Bitcoin. Monero’s XMR climbed 13% as traders chased smaller, more volatile names, reinforcing the sense that the rally is attracting speculative money as much as longer-term capital.

The backdrop in other markets is helping. The Nasdaq closed 2.8% higher, its best day since early August, while Brent crude fell for a fourth straight session, easing pressure on inflation-sensitive assets. The dollar, meanwhile, showed extreme fear in Adalytica’s trade-signal snapshot even as its sentiment reading stayed elevated, a mix that points to choppy macro positioning ahead of the summit and upcoming policy headlines.

For investors, the key risk is leverage. A crowded futures market can accelerate gains on the way up, but it can also magnify liquidations if macro sentiment turns or if the Trump-Xi meeting disappoints. The next test is whether Bitcoin can hold above the low-$80,000s after the initial rush of speculative buying fades.