Bitcoin (BTC) slipped roughly 0.5% to about $85,800 after sellers rejected an attempt to move above $87,000 for the third time since September 23. The pullback came even as Strategy bought 334 BTC and Strive added 2,000 — a contrast that underscores how corporate accumulation has continued while the price has yet to convert that demand into a confirmed breakout.

The purchases matter as evidence that both companies are still directing capital toward Bitcoin, though 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.

Strive Adds 2,000 BTC for $169 Million

Strive acquired 2,000 BTC for $169 million at an average cost of $84,422 per bitcoin, bringing total holdings to ₿29,462. According to the announcement, .5% of the capital raised came from SATA, with warrants generating $56.7 million. An 8-K filing also highlights key metrics and KPIs through 3Q26.

Strive acquired 2,000 $BTC for $169M at an average cost of $84,422 per bitcoin, bringing total holdings to ₿29,462. 61.5% of capital raised came from SATA, with warrants generating $56.7M. Today's 8-K also highlights key metrics and KPIs through 3Q26. $ASST $SATA pic.twitter.com/HS4ADPQ8mJ

— Matt Cole (@ColeMacro) October 5, 2026

Why Bitcoin Keeps Rejecting $87,000

BTC hit resistance just above $87,000 on October 5 and traded around $86,000 on the morning of October 6. The level has capped rallies repeatedly since September 23, marking a significant resistance zone. At the same time, Bitcoin has formed higher local lows, suggesting buyers are stepping in, though not yet with enough momentum to force a break above resistance.

$BTC is hovering around the $86,000 level. Until Bitcoin breaks above $87,000, every upside rally will be capped. pic.twitter.com/Uh2B84nHCs

— Ted (@TedPillows) October 6, 2026

FxPro analyst Alex Kuptsikevich noted that Bitcoin is nearing the apex of a triangle pattern, a setup that could lead to increased volatility, although it does not predict the direction of a breakout.

Broader Market Edges Lower

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. Most major cryptocurrencies also struggled, with Ethereum, XRP, Solana, and Dogecoin falling 1-2%, while ADA bucked the trend with an 11% gain.

The market reflects a mix of constructive short-term signals and ongoing resistance, leaving traders to look for confirmation through price action.

Corporate Buying Is Real, but Funding Structures Matter

Strategy and Strive recently acquired a combined 2,334 BTC, signaling continued corporate demand but not necessarily indicating that market selling has ceased, according to data from CoinGecko.

Strategy, the largest corporate holder of Bitcoin, purchased 334 BTC, bringing its total to 848,000 BTC — roughly 4% of Bitcoin's fixed 21 million supply — funded by approximately $28.7 million from Class A common stock sales. That financing model highlights how growing Bitcoin holdings can dilute existing shareholders.

Strive's 2,000 BTC purchase lifted its holdings from 27,462 to 29,462 BTC at a reported cost of around $169 million, funded primarily through its Variable Rate Series A Perpetual Preferred Stock (SATA). This structure prioritizes investor dividends and adds complexity to the company's Bitcoin strategy. Strive also maintains a $500 million facility for possible SATA repurchases, which could affect future financing costs.

Future purchase announcements and company filings will show whether this pace of corporate accumulation continues. The differing funding approaches carry distinct implications for dilution and cash reserves. As a result, buying shares in a Bitcoin treasury company involves different risks than holding BTC directly, since share prices can be influenced by financing decisions and corporate structure.

Source: 99Bitcoins