Bitcoin Tops $87,000 as Rebound Continues

Price move and the bigger picture

Bitcoin poked above $87,000 on Friday, touching $87,206 at the intraday peak before giving back the move and trading little changed. That keeps the recovery intact for a third straight week and leaves weekly gains around 1%. The latest stretch also wrapped its strongest quarter since the end of 2024, up 43% across the three months through September.

What is fueling the bounce

Stronger institutional money flowing into exchange traded funds has helped support demand this week. The backdrop has been unexpectedly resilient too. Bitcoin remained on course even as the US Senate shelved a closely watched piece of cryptocurrency regulatory legislation and the Federal Reserve raised rates in mid-September. Pratik Kala, who serves as head of research at Apollo Crypto, said, "Investors globally have observed this relative strength." "Combined with record-low sentiment two months prior, the sentiment is dips are for buying."

Sentiment, seasonality and context

Some traders are even floating bottom-calling arguments after a bruising 2026 that followed last October's sharp selloff just after Bitcoin set an all-time high above $126,000. At one point this year, it had fallen by more than half from that peak. Seasonality might be adding a tailwind too. October has delivered gains in 10 of the past 15 years, though last year bucked the pattern with a 7% slide following that record price.