Bitcoin Surges Past $86,000 as Institutional Demand Continues to Fuel Rebound

Bitcoin's rebound continued into its third week as the cryptocurrency rose above $86,000. This price surge comes on the back of strong demand from institutional investors who have been pouring money into exchange-traded funds (ETFs). The rise has helped Bitcoin gain around 40% in the last quarter, making it one of its best quarters since the end of 2024.

Despite some traders calling a bottom for cryptocurrencies earlier this year, Bitcoin had still faced significant pressure due to macro trends. However, it emerged relatively unscathed from recent events such as the US Senate's failure to advance a crypto regulation bill and the Federal Reserve raising interest rates in mid-September.