Bitcoin Rockets to New High as Institutional Interest Soars

Bitcoin prices surged to a record high of $86,913 on September 23, marking its highest level since then. The cryptocurrency's spot price is currently at $86,461, with many investors eyeing the potential for further gains.

A total of $6.1 billion was invested in Bitcoin ETFs in August and September, indicating strong interest from institutional investors. Meanwhile, open positions and funding rates have increased, while 72% of short sales over the past 24 hours have been closed out.

The next major test for Bitcoin's growth will come today at 15:30 GMT, when the US employment data is released. Analysts are keeping a close eye on this development, with support levels set at $82,500 and resistance at $87,400.