Bitcoin Nears Eight Month High as ETF Assets Top $111 Billion This Week

Bitcoin climbed above $86,000 on Monday morning as traders priced out any chance of a Federal Reserve rate hike in October after a weaker-than-expected September jobs report. Bitcoin approached $87,000, briefly touching an eight-month high before reversing course, according to CoinDesk. FOMC meeting minutes, due Wednesday, remain the week's most closely watched macro event and could set the tone for price action through mid-October.

The move higher comes against a broader backdrop of sustained institutional demand. Spot Bitcoin ETFs logged $2.7 billion in September inflows, with total assets under management reaching $111.07 billion as of October 4, up from $99.7 billion just one month prior. The Block reported that the steady capital allocation from traditional finance has provided a consistent bid under BTC's spot price, reinforcing market confidence heading into the fourth quarter.

Bulls Eye the 2026 Yearly Open at $87,570

Cointelegraph noted that Bitcoin posted its highest weekly close since late January, settling at $86,532 on Bitstamp, as bulls made their fourth attempt since September 21 to break decisively higher. The 2026 yearly open at $87,570 now stands as the key resistance level the market must clear to turn the annual candle green. Brief wicks to $87,000 have appeared on several exchanges, but sellers have repeatedly pushed the price back below that threshold.

Traders are also watching the bond market closely, with a 10-year Treasury note auction scheduled for Wednesday alongside the Fed minutes. October has historically been a strong month for Bitcoin, averaging 18.7% upside since 2013, a seasonal tailwind that bulls are counting on as liquidity walls thicken around current spot prices. A clean break above $87,570 would mark a significant technical milestone and could accelerate momentum into the back half of the month.