This Friday, the price of the cryptocurrency surpassed the $86,000 mark. According to Bloomberg, investors have once again begun actively investing in risky assets, which has driven the rise since early October.
During trading, Bitcoin jumped 2.66%, but then retreated slightly and was trading around $86,200 as of 10:30 a.m. London time. Over the past week, the asset has risen in price by approximately 2%, largely due to the inflow of institutional capital into ETFs. This momentum allowed the cryptocurrency to post its best quarterly performance since late 2024, as the price rose by about 40% from July through September.
Many in the market believe that the worst is already behind us. Most of 2026 was quite difficult due to market pressure following that massive sell-off in October of last year, when Bitcoin hit an all-time high of $126,000. This year, the coin’s price has also fluctuated sharply, falling at times by more than 50% from its peak.
At the same time, Bitcoin has held up remarkably well despite macroeconomic news. It was unaffected by either the U.S. Senate’s decisions on cryptocurrency regulation or the Fed’s interest rate hike in mid-September.
Pratik Kala of Apollo Crypto noted that investors around the world have taken notice of this resilience. According to him, the market is strong right now, and given how pessimistic everyone was just a few months ago, market participants are trying to buy up assets at the slightest dip.
Incidentally, the rally in early October coincides with the seasonal “Uptober” trend. Statistics show that in 10 out of the last 15 instances, Bitcoin rose specifically in October. Last year was no exception to the rule: the price fell by 7% then, which came as a surprise after record highs.
Another factor driving the growth is the upcoming Token2049 conference in Singapore, which begins next week. It seems that this time, industry participants are much more optimistic than they were two months ago.