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Bitcoin rose 3% on Friday, October 2, to USD 86,650.40, extending its positive October start as traders watched historical monthly trends and awaited US employment data. The cryptocurrency also gained 2.6% this week, putting it on course for a third consecutive weekly advance. Meanwhile, broader crypto prices moved higher, although caution before the U.S. nonfarm payrolls report limited gains.
The latest advance followed a strong September for Bitcoin. The cryptocurrency gained 6.4% during the month and erased much of its earlier 2026 decline. Bitcoin has now advanced for three consecutive months, although it remains about 1% lower this year.
October historically delivered frequent gains for Bitcoin, creating the market term “Uptober.” Bitcoin rose during 10 of the previous 15 Octobers. Those positive months produced an average gain of 27.4%.
By comparison, Bitcoin’s losing Octobers recorded an average decline of 13%. Still, historical performance provides context rather than certainty about the current month. October 2025 showed how quickly conditions can change.
Bitcoin reached a record high near the start of October 2025 before ending the month lower. U.S. tariff threats and concerns surrounding artificial intelligence contributed to a broader move away from crypto assets.
Bitcoin later fell as low as USD 58,000 during 2026 as that rotation continued. However, the cryptocurrency recovered during the past three months and entered October near USD 86,000.
US spot Bitcoin ETFs recorded USD 2.65 billion in net inflows during September, according to SoSoValue data. That represented their second-largest monthly inflow since October 2025.
September flows remained below August’s USD 3.52 billion total. Even so, they stayed well above the levels recorded through much of the previous year. The trend also continued as October began.
Spot Bitcoin ETFs attracted another USD 102.7 million on October 1. Zeus Research analyst Dominick John said the flows indicated that institutional demand had continued during the recovery.
John also linked sustained ETF demand with improving sentiment entering the fourth quarter. Bitcoin’s recent price recovery has developed alongside these institutional flows after its decline to USD 58,000 earlier this year.
Spot Ether ETFs also recorded USD 832.43 million of September inflows. That marked their second-largest monthly total since August 2025, although it remained below August’s USD 1.85 billion. Ether ETFs then posted USD 55.4 million of outflows on October 1.
Attention now turns toward Friday’s U.S. nonfarm payrolls report. The data arrives as markets assess the possibility of further Federal Reserve rate increases following September’s rate hike.
Federal Reserve officials delivered mixed signals overnight. Some supported additional increases, while others saw no immediate need to tighten monetary policy further. Inflation and employment remain central factors in the Fed’s rate decisions.
A strong payrolls report could give the Federal Reserve more room to raise rates. Higher borrowing costs typically create tougher conditions for risk assets, while US Treasury yields also rose sharply during the week.
Read More: Bitcoin Outflow, Citi Lifts Ethereum Target, Crypto Checkout on Polygon
Meanwhile, persistent U.S.-Iran tensions added another source of risk for markets. Bitcoin’s ability to maintain its October rebound will therefore develop alongside interest-rate expectations and broader geopolitical conditions.
Other cryptocurrencies also moved higher before the employment report. Ether gained 0.4% to USD 2,728.87, while XRP added 0.9%. Solana climbed 2.9%, Cardano gained 0.5%, and BNB rose 0.9%.
The TRUMP memecoin moved in the opposite direction, falling 2.6%. The decline followed sharp gains during the previous session after the coin’s operator announced another dinner with U.S. President Donald Trump for leading holders.
Bitcoin entered October above USD 86,000 after three straight months of gains and continued Bitcoin ETF inflows. However, U.S. payroll data, higher Treasury yields, Federal Reserve rate expectations, and U.S.-Iran tensions remain important factors for the crypto market.
