Bitcoin Soars Above $86,650 as October Rally Continues

Bitcoin surged to above $86,650 in October, extending its strong start to the month and marking three consecutive months of gains. The cryptocurrency gained 3% on Friday, October 2, and 2.6% this week, putting it on track for a third straight weekly advance.

The October rally has been fueled by historical trends, with Bitcoin typically experiencing frequent gains during the month. In fact, the cryptocurrency rose in 10 out of the previous 15 Octobers, producing an average gain of 27.4%. By contrast, losing Octobers saw an average decline of 13%.

The strong October start for Bitcoin also coincides with significant inflows into US spot Bitcoin ETFs. According to SoSoValue data, these funds recorded $2.65 billion in net inflows during September, their second-largest monthly total since October 2025.