Bitcoin Surges Past $86,000 as Institutional Demand Boosts Price
Bitcoin's rebound continues into its third consecutive week as investors snap up risk assets. The original cryptocurrency rose above $86,000 on October 2, with a high of around $86,200 by 10:30 am in London.
The surge comes as institutional flows into exchange-traded funds (ETFs) boost demand for Bitcoin. This has led to the asset's biggest quarterly gain since the end of 2024, with a roughly 40% increase in the three months through September.
Some traders are cautiously optimistic about a bottom being formed for cryptocurrencies, which were battered throughout much of 2026 after hitting an all-time high above $126,000 in October 2025. Bitcoin's resilience also comes as it emerged from recent macro trends relatively unscathed, including the US Senate's failure to advance a highly anticipated crypto regulation bill and the Federal Reserve raising interest rates in mid-September.
'Investors globally have observed this relative strength,' said Pratik Kala, head of research at Apollo Crypto. 'Combined with record-low sentiment two months prior, the sentiment is dips are for buying.'