Bitcoin has surged to $87,000, marking another strong session for the world’s largest cryptocurrency, drawing widespread attention across crypto markets.
The flagship cryptocurrency was up 2.6% at $86,864, after reaching a one-week high earlier in the day, as optimism returned to the crypto markets following weak U.S payrolls data and dovish Federal Reserve comments.
The latest move follows a strong September for BTC, which gained more than 6% during the month after recovering from a mid-September selloff.
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Over the past few weeks, Bitcoin has climbed significantly from lows, supported by a combination of institutional demand and short-covering activity.
The rebound also comes after a powerful quarter for crypto. The crypto asset gained more than 40% in the third quarter, while U.S. spot Bitcoin ETFs attracted roughly $6.34 billion of net inflows, reversing about $5 billion of second-quarter outflows.
These inflows, alongside earlier larger daily figures that approached $1 billion during the September breakout, have helped absorb selling pressure.
Market structure also favored the upside. Sellers who had stacked orders around the $85,000 level largely stepped aside after those asks were filled or pulled, reducing immediate overhead supply.
At the same time, short liquidations exceeded $120 million in a 24-hour window, adding fuel as leveraged positions were forced to cover. Traders note that the next notable concentration of sell orders sits near current levels and slightly higher, around $87,000–$87,400.
Bitcoin has historically posted some of its strongest quarterly gains in the fourth quarter (Q4), but the record is far from consistent. Of the 12 completed fourth quarters from 2014 through 2025, Bitcoin’s broader crypto market benchmark finished higher in seven and lower in five.
The median Q4 gain was about 11%, with the largest gains concentrated in a handful of bull-market years. That leaves the current rally facing two immediate tests – whether renewed ETF demand can continue and whether Friday’s jobs data changes expectations for interest rates.
Despite the positive price action, Bitcoin remains well below its October 2025 all-time high above $126,000 and the January 2026 peaks near $97,000. Analysts remain divided on the near-term path.
Some view a sustained hold above $85,000–$86,000 as constructive for a push toward $90,000, while others caution that resistance and broader macroeconomic factors, including upcoming U.S. economic data, could still produce volatility or consolidation.
Paul Howard, senior director at crypto market maker and OTC liquidity provider Wincent, noted that his expectation for bitcoin to break $100,000 by the end of the year remains intact, particularly following Citi’s recently revised $113,000 price target.
“In the near term, I expect BTC to continue oscillating around the $85,000 level, but a sustained break above $90,000 could open the door to a stronger move higher, with relatively limited resistance beyond that point,” he said.
Overall crypto market capitalization has climbed back toward the $3 trillion mark during the recovery, with Bitcoin’s dominance holding near 58–59%.
The latest move to $87,000 reinforces the narrative of renewed institutional interest and improving technical momentum after the mid-September correction, even as traders watch closely for confirmation that the level can hold.
Outlook
Bitcoin’s move above $87,000 has strengthened the recovery narrative, but the cryptocurrency now faces an important technical and macroeconomic test.
The immediate resistance zone is around $87,000–$87,500, where Bitcoin has previously struggled to sustain upward momentum. A decisive break and hold above that range could bring $90,000 into focus, while some market analysts have identified $95,000 as a potential next target if momentum and institutional demand remain strong.
The macroeconomic backdrop has also become more supportive. U.S. employers added only 29,000 jobs in September, well below expectations, while unemployment rose to 4.2%.
The weaker labor-market data reduced expectations of another Federal Reserve rate hike in October and pushed Treasury yields lower, conditions that can improve the appeal of non-yielding risk assets such as Bitcoin.