Bitcoin Surges Above $86k as Risk Assets Gain Momentum

Bitcoin climbed above $86,000 on Friday as investors returned to risk assets heading into October.

The cryptocurrency rose as much as 2.7% to $86,851 before paring gains to trade around $86,400.

This marks the third straight week of gains for Bitcoin, which has risen roughly 2% this week alone.

Strong institutional flows into exchange traded funds are boosting demand for the asset, according to recent data.

Bitcoin's price surge helped it conclude its biggest quarter since the end of 2024, gaining about 40% in the three months through September.