Bitcoin holds near $84,800 after rejecting $87,000

Bitcoin traded around $84,800 on Saturday after briefly reaching above $87,000 during the preceding session. The day's range narrowed to roughly $84,400 to $85,000 as weekend volume fell and the market consolidated the sharp move around Friday's US employment data.

The earlier rally followed a report showing only 29,000 US jobs added in September and unemployment rising to 4.2 percent, which reduced expectations for another near-term Federal Reserve rate increase. Bitcoin gave back much of that immediate move before the weekend.

A quiet session after a large macro-driven swing is not a fresh signal by itself. Holding near $84,800 preserves most of the recent advance while leaving the failed move above $87,000 as the next obvious test for buyers.