Bitcoin Surges to USD 86K Amid October Rally and ETF Inflows

Bitcoin's October rally gained momentum on Friday, October 2, as the cryptocurrency rose 3% to a price of USD 86,650.40. This marked the third consecutive weekly advance for Bitcoin, which has also gained 2.6% this week. The broader crypto market moved higher, but gains were limited due to caution ahead of the US nonfarm payrolls report.

The strong September for Bitcoin, which saw a 6.4% gain, has been followed by three consecutive months of advances. However, Bitcoin remains about 1% lower this year. Historical trends suggest that October is a good month for Bitcoin, with the cryptocurrency rising during 10 of the previous 15 Octobers and averaging a gain of 27.4% during those positive months.

Bitcoin ETFs have seen significant inflows, with USD 2.65 billion in net inflows in September, the second-largest monthly inflow since October 2025. Analyst Dominick John attributed the sustained ETF demand to improving sentiment entering the fourth quarter.