Bitcoin Breaks Above $86,000 on Strong Institutional Demand

Bitcoin surged above $86,000 on Friday, marking its third consecutive week of gains as investors returned to risk assets ahead of October. The cryptocurrency rose by up to 2.66% before trimming its advance and trading around $86,200 at 10:30 a.m. in London. This week's increase brought the total rise to roughly 2%, driven largely by strong institutional inflows into exchange-traded funds.

The increased demand helped Bitcoin conclude its largest quarter since late 2024, with a gain of about 40% in the three months through September. The asset's rebound is a welcome change for investors who saw it drop below $20,000 at one point earlier this year.