Bitcoin Surges to $86,000 on Strong ETF Demand

Bitcoin extended its rebound into a third straight week, climbing 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 increase helped Bitcoin conclude its biggest quarter since the end of 2024, with a gain of about 40% in the three months through September.

The strong institutional flows into exchange-traded funds boosted demand for Bitcoin, contributing to its rise. This development marks a shift in investor sentiment, with risk assets gaining traction after a period of caution.

Bitcoin's resurgence into the third straight week is a significant development, given its volatility in recent months. However, it is essential to note that this trend may not continue, and investors should remain cautious.