TLDR
- Bitcoin jumped above $86,000 and hit an intraday high near $86,885.
- BTC is testing resistance around $86,500-$87,000 while its daily uptrend stays intact.
- U.S. spot Bitcoin ETFs saw a nine-day streak of roughly $3.1 billion in inflows.
- The streak ended with $148.7 million in outflows, led by Fidelity’s FBTC.
- Citi raised its 12-month Bitcoin target from $82,000 to $113,000.
Bitcoin (BTC) climbed back above $86,000 on Friday. Buyers pushed the price into a zone that had stopped the last rally in September.
BTC opened near $84,849. It then rose as high as $86,885 during the session.
The coin was trading around $86,266 at the time of writing. That marks a gain of roughly 1.7% on the day.
This move puts Bitcoin back near the highs it reached in late September. BTC briefly traded above $87,000 then before falling back toward $82,000.
The daily chart still shows an upward path. Price has climbed from around $63,000 in August, forming a series of higher lows along the way.
Analyst Bull Theory pointed to fast market action around the move. The account wrote that Bitcoin’s reclaim of $86,000 liquidated $120 million in short positions within 60 minutes, while $40 billion was added to the total crypto market cap over that same stretch.
BREAKING: Bitcoin reclaims $86,000, liquidating $120 million in shorts in just 60 minutes.
$40 billion added to crypto market cap over the same period. pic.twitter.com/CN80sRg8LB
— Bull Theory (@BullTheoryio) October 2, 2026
Bulls Face the $87K Wall
The main fight right now is happening between $86,500 and $87,000.
Bitcoin has failed to hold above this zone more than once in recent weeks. A solid daily close above it would matter for the current attempt.
If BTC holds above $87,000, there is little resistance on the chart until the $94,000-$97,000 zone. That area capped price during late 2025 and early 2026.
Support sits near $82,000-$83,000 for now. The wider $80,000-$82,000 zone would become the next test if this move fails.
Bitcoin’s daily Relative Strength Index reads 68.22. That sits close to the 70 level traders watch for overbought conditions.
The MACD line sits near 2,133, below the signal line at 2,162. The histogram is slightly negative at about -29, showing momentum has not fully confirmed yet.
Trader Ted Pillows described the buying pressure behind the move. He said spot demand for $BTC was strong on the day, adding that a confirmed reclaim of $86,000 would put buyers firmly in control.
Strong $BTC spot buying happening today.
If Bitcoin reclaims $86,000 here, buyers will be in full control. pic.twitter.com/5vgNTBEBci
— Ted (@TedPillows) October 1, 2026
ETF Flows Turn Positive Again
Institutional demand remains a central part of this recovery story.
U.S. spot Bitcoin ETFs pulled in close to $3.1 billion across nine straight positive trading days. That streak ended on September 30.
The funds then recorded $148.7 million in net outflows. Fidelity’s FBTC led the withdrawals with $125.6 million, followed by Bitwise’s BITB and BlackRock’s IBIT.
The broader quarter still looks strong. ETFs took in about $6.34 billion during Q3, including roughly $2.65 billion in September alone.
This has pushed 2026 ETF flows back into positive territory after months of outflows earlier in the summer.
Citi raised its 12-month Bitcoin price target from $82,000 to $113,000 this week. The bank pointed to stronger crypto activity, improving macro conditions and renewed ETF demand.
Federal Reserve officials have signaled they may wait for more data before adjusting rates again in October. U.S. Treasury yields remain close to multi-decade highs.
Bitcoin is back above $86,000 with its daily uptrend still in place. Bulls are testing the $86,500-$87,000 ceiling after reclaiming the level earlier in the session.
Be the first to comment