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Bitcoin rebounds above $86,000 as US spot ETF demand returns
Bitcoin was up 3.7% over 24 hours to trade around $86,325.4 by 08:40 UTC, after US spot Bitcoin ETFs logged $102.7 million in net inflows on Oct. 1.
Bitcoin climbed back above $86,000 on Oct. 2, helped by a rebound in demand for US spot Bitcoin ETFs, according to CryptoSlate. By 08:40 UTC, Bitcoin traded at $86,325.44, up 3.7% over the prior 24 hours.
CryptoSlate said the move followed a Sept. 30 rebound that later faded, and it noted the advance appeared tied to renewed buying interest alongside reported short liquidations that can accelerate price gains. The outlet also pointed to differences in timing between daily fund flow data and reported liquidation figures, leaving the initial trigger unclear.
In market data referenced by CryptoSlate, Coinbase's BTC-USD market showed a rolling 24-hour range from $83,353.87 to $86,885.28, with the last trade at $86,377.70 at 08:42 UTC.
CryptoSlate added that Ether, XRP, and Solana also advanced in its rankings, and that US spot Bitcoin ETFs recorded net inflows of $102.7 million on Oct. 1, citing Farside Investors.
Latest closeBitcoin $86,682.46 ▲2.2%|Solana $122.42 ▲3.4%|XRP $1.541 ▲3.1%