On Friday, Bitcoin’s price rose, continuing the positive trend that began in early October. Investors are hopeful that this month—which is traditionally considered a good one for digital assets—will once again see growth.
As of 8:01 a.m. Moscow time, the leading cryptocurrency had risen 3%, reaching $86,650.4. Over the past week, prices rose 2.6%, marking the third consecutive week of growth.
The overall market sentiment was also positive, although significant price gains were tempered by caution among traders ahead of the upcoming release of key U.S. nonfarm payroll data.
Bitcoin Begins October’s Uptrend with Momentum and Caution
Following a successful September, during which the cryptocurrency recouped a significant portion of the losses accumulated since the start of the year, Bitcoin opened October on a positive note.
Traders refer to October as “Uptober” due to Bitcoin’s historical tendency to rise during this period. Market optimism is bolstered by the fact that the asset rose 6.4% in September.
The world’s leading cryptocurrency has also posted gains for three consecutive months, trading just 1% below its levels at the start of this year.
Statistics show that in 10 of the last 15 Octobers, Bitcoin has risen, with an average gain of 27.4% and an average decline of 13%.
Despite reaching an all-time high at the beginning of the month, Bitcoin’s performance in October 2025 was negative. A massive capital outflow from the crypto industry was triggered by concerns over artificial intelligence and the possible imposition of trade tariffs in the U.S.
This outflow of funds continued for most of 2026, causing the price of Bitcoin to drop to $58,000, followed by a three-month recovery period.
It is currently unclear whether the cryptocurrency will be able to continue its upward trend in October, given risks such as rising interest rates and the ongoing conflict between Iran and the U.S.
Crypto Market Update: Altcoins Rise Amid Anticipation of Employment Data
On Friday, the cryptocurrency market showed signs of strengthening, though the pace of growth is being held back by anticipation of the release of U.S. nonfarm payroll data.
The release of these statistics is scheduled for Friday amid concerns about a possible tightening of the Fed’s monetary policy. Earlier in September, the central bank raised rates and pointed to persistently high inflation.
Statements from Fed officials overnight were mixed: some officials support further rate hikes, while others do not consider an immediate tightening of policy necessary.
When making decisions on interest rates, the Fed focuses on inflation and the state of the labor market. If the labor market proves to be too strong, the central bank will have grounds to raise rates, which would negatively impact crypto assets.
This week saw a sharp rise in U.S. Treasury yields, which put pressure on the cryptocurrency sector.
Ether, the second-largest cryptocurrency by market capitalization, rose 0.4% to $2,728.87, while XRP gained 0.9%.
Solana rose 2.9%, Cardano gained 0.5%, and BNB increased by 0.9%.
In the meme coin segment, the TRUMP token lost 2.6%, failing to sustain the previous session’s gains, which had been driven by the announcement of a dinner with Donald Trump for major holders of the asset.
Dogecoin posted a 0.5% gain.