Bitcoin Surges Past $87,000 on Strong ETF Demand

Bitcoin's price surge continued into its third consecutive week, with the cryptocurrency briefly climbing above $87,000 on Friday. The strong demand for Bitcoin was driven by institutional investors pouring money into exchange-traded funds (ETFs).

The original cryptocurrency rose as much as 3% to $87,206, but pared gains to trade little changed. Despite the fluctuations, Bitcoin has still risen roughly 1% this week, a testament to the growing interest in the asset.

The price increase helped Bitcoin conclude its biggest quarter since the end of 2024, with a 43% gain in the three months through September. The strong performance has likely caught the attention of investors who may have been hesitant to enter the market earlier.