--- title: "Bitcoin, Ethereum, XRP, Dogecoin Slide After Fresh Macro Data: Analyst Says This BTC 'Trigger' Could Potentially Usher in $90,000 Level" type: "News" locale: "en" url: "https://longbridge.com/en/news/300989232.md" description: "Major cryptocurrencies including Bitcoin, Ethereum, and XRP declined on October 5 as investors assessed U.S. manufacturing data and Fed rate hike odds. Bitcoin dropped from the mid-$86,000s to the early $85,000s, with over $190 million in liquidations recorded. Despite the pullback, analyst Michaël van de Poppe suggests flipping above $85,000 could trigger upward momentum toward $90,000. Meanwhile, CryptoQuant noted Bitcoin's Puell Multiple hit an 11-month high, indicating potential for further price increases." datetime: "2026-10-06T02:01:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/300989232.md) - [en](https://longbridge.com/en/news/300989232.md) - [zh-HK](https://longbridge.com/zh-HK/news/300989232.md) generator: "portal-rs" --- # Bitcoin, Ethereum, XRP, Dogecoin Slide After Fresh Macro Data: Analyst Says This BTC 'Trigger' Could Potentially Usher in $90,000 Level Major cryptocurrencies reversed course on Monday following their Sunday gains, as investors weighed the latest U.S. manufacturing data and the likelihood of a rate hike. | **Cryptocurrency** | **24-Hour Gains +/-** | **Price (Recorded at 9:18 p.m. EDT)** | | ------------------------------------ | --------------------- | ------------------------------------- | | **Bitcoin** (CRYPTO: BTC) | -0.70% | $85,977.33 | | **Ethereum** (CRYPTO: ETH) | -0.40% | $2,717.44 | | **XRP** (CRYPTO: XRP)             | -0.80% | $1.51 | | **Solana** (CRYPTO: SOL)             | -0.50% | $121.06 | | **Dogecoin** (CRYPTO: DOGE)    | -0.60% | $0.09541 | ## **Crypto Market** Corrects After Sunday Spike **Bitcoin** fell sharply from the mid-$86,000s to the early $85,000s in the afternoon, before paring gains late in the evening. **Ethereum** struggled to break away from the $2,700 zone, while **XRP** and **Dogecoin** declined notably. Cryptocurrency-related stocks moved the other way, with **Strategy Inc.** (NASDAQ:MSTR) and **Bitmine Immersion Technologies Inc.** (NYSE:BMNR) closing down 4.42% and 2.02%, respectively.  Over $190 million was liquidated from the cryptocurrency market in the last 24 hours, with $114 million in long positions erased, according to Coinglass data. Roughly 64,622 traders were liquidated. Bitcoin’s open interest fell 0.97% over the last 24 hours, but Binance derivatives traders with open BTC positions remained “Neutral.” **Top Gainers (24 Hours)**  **Cryptocurrency** **Gains +/-** **Price (Recorded at 9:18 p.m. EDT)** **Midnight** (NIGHT)       +12.40%     $0.05087 **OKB** (OKB)     +9.60%     $133.50 **Filecoin** (FIL)          +9.40%     $1.6 The global cryptocurrency market capitalization stood at $3.02 trillion, up 0.10% over the last 24 hours, while the total trading volume surged 66%. **Read Also: After Bitcoin Crashed, Bitwise Asked 15 Institutions if They Sold: None Did** ## **Stock Market Surges** Stocks began the new trading week on a strong footing. The **Dow Jones Industrial Average** rallied 90.94 points, or 0.18%, to close at 51,267.90.The **S&P 500** rose 0.66% to 7,773.95, while the tech-heavy Nasdaq Composite climbed 1.05% to a record close of 27,477.31. The Purchasing Managers’ Index—which measures the health and direction of the manufacturing and services sectors—declined to 54.9% in September from 55.4% in the previous month, but was roughly in line with market estimates of 55%. Meanwhile, odds that the Federal Reserve will keep interest rates unchanged stood at 76.8%, according to the CME FedWatch tool. ## Bitcoin Upsides to Follow? **Michaël van de Poppe**, a widely followed cryptocurrency analyst and trader, speculated that Bitcoin is favoring the bullish “upper scenario” over a deeper pullback. “Flipping $85,000 would be a trigger that we’re going to be seeing more upward momentum here and potentially even seeing $90,000 as a next target,” the analyst stated. > Phenomenal skills when it comes to making analysis with a pencil. > > Anyways, it's quite clear that #Bitcoin doesn't want to go down and that it's the upper scenario. > > Flipping $85,000 would be a trigger that we're going to be seeing more upwards momentum here and potentially even… pic.twitter.com/bvNoo5aFYc > > — Michaël van de Poppe (@CryptoMichNL) October 5, 2026 On-chain analytics firm CryptoQuant highlighted that Bitcoin’s Puell Multiple — an indicator that measures when miner revenues are unusually high or low compared to their yearly average — has hit an 11-month high “As the Puell Multiple breaks above 1.00 — exiting the accumulation zone — a reversal is expected to be underway, with an initial target of 2.00,” CryptoQuant said. “BTC price has room to continue rising in an attempt to break through key resistance levels.” > Puell Multiple hits 11-month high > > "As the Puell Multiple breaks above 1.00 — exiting the accumulation zone — a reversal is expected to be underway, with an initial target of 2.00" – By @gaah\_im pic.twitter.com/yzryM9slYv > > — CryptoQuant.com (@cryptoquant\_com) October 5, 2026 **Read Also: CLARITY Act Failure Spurs New CFTC Crypto Rules, Chairman Selig Says It's 'Just The Beginning'** *Photo: KateStock / Shutterstock* ### Related Stocks - 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