<\/p>\n
Bitcoin climbed above $86 000 on Friday, extending its rebound into a third straight week as investors returned to risk assets heading into October.<\/p>\n
The original cryptocurrency climbed as much as 2.7% to $86 851, before paring gains to trade around $86 400. Bitcoin has risen roughly 2% this week as strong institutional flows into exchange traded funds boosted demand. The rise helped the asset conclude its biggest quarter since the end of 2024, gaining about 40% in the three months through September.<\/p>\n<\/p>\n
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Some traders have optimistically been calling a bottom for cryptocurrencies, which had been battered for much of 2026 since a sharp selloff last October, after it hit an all-time high above $126 000 that month. The token had at one point this year more than halved from its high.<\/p>\n
Bitcoin\u2019s buoyancy comes after it emerged from recent macro trends relatively unscathed. The US Senate\u2019s failure to advance a highly anticipated crypto regulation bill and the Federal Reserve raising interest rates in mid-September did nothing to dent the cryptocurrency.<\/p>\n
\u201cInvestors globally have observed this relative strength,\u201d said Pratik Kala, head of research at Apollo Crypto. \u201cCombined with record-low sentiment two months prior, the sentiment is dips are for buying.\u201d<\/p>\n
The early-October boost coincides with a traditional seasonal trend in crypto markets commonly referred to as \u201cUptober.\u201d Bitcoin has posted gains in 10 of the last 15 Octobers. Last year\u2019s 7% drop, while not the asset\u2019s worst October, was a particularly disappointing reversal after hitting a record price.<\/p>\n
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The move higher also comes ahead of next week\u2019s Token2049 in Singapore, when industry leaders and executives will converge in the city-state amid a more upbeat mood than would have been expected two months ago.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Bitcoin #rises #straight #week #strong #ETF #demand<\/p>\n","protected":false},"excerpt":{"rendered":"
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