Bitcoin climbs above $86K for third straight week on ETF demand

Bitcoin pushed above $86,000 on October 2, 2026, notching its third consecutive week of gains, Bloomberg reported.

The driver was a familiar one: institutional money flowing back into US spot Bitcoin ETFs.

During intraday trading, Bitcoin reached approximately $86,850. It then cooled off and settled around $86,300 to $86,400.

The weekly gain came in at about 2%.

For the quarter ending in September 2026, Bitcoin posted gains of around 40%, its best quarterly showing since late 2024.

The immediate catalyst arrived on October 1. US spot Bitcoin ETFs recorded $102.7 million in net inflows that day.

That figure matters because of what came right before it. The prior session had seen $148.7 million leave the funds, so the October 1 inflow flipped the direction of travel.

BlackRock's ETF did much of the heavy lifting, drawing around $196 million on its own.

Before the recent recovery, ETF flows had been negative for weeks, with outflows exceeding $5 billion since mid-2026.

The week ending September 25 brought a $2.4 billion inflow into Bitcoin ETFs, the largest in almost a year.

Since the funds launched in January 2024, cumulative inflows have reached roughly $57.6 billion.

Total assets under management across US spot Bitcoin ETFs stand at about $109 billion.

Citigroup raised its 12-month price target for Bitcoin to $113,000. Its previous target was $82,000.

The bank tied its revised view to stronger ETF demand and a favorable macroeconomic backdrop.

Bitcoin's recent climb has also been aided by traders on the wrong side of the move. Short liquidations exceeded $120 million recently.