TL;DR
- Bitcoin enters October 2026 near $87,100 as US spot ETFs return to inflows, with $102.7 million recorded on October 1.
- A year after the $19 billion liquidation event that ended Bitcoin’s seven-year October winning streak, buyers are testing higher levels again.
- The Federal Reserve’s October meeting, ETF demand, and leverage conditions could shape whether this Uptober develops differently from 2025.
Bitcoin is starting another Uptober with a very different setup from the one that preceded last year’s crash. The cryptocurrency climbed to $87,000 on October 2, its highest level since September 23, after buyers cleared heavy selling pressure around $85,000.
The move comes as institutional demand shows signs of returning. US spot Bitcoin ETFs recorded $102.7 million in net inflows on October 1, giving Bitcoin an additional source of buying pressure as the new quarter begins. The renewed ETF activity is particularly relevant after several months in which flows failed to match the strength seen earlier in the year.
Bitcoin Tests Uptober Momentum Again
The comparison with October 2025 remains difficult to ignore. On October 10 last year, a tariff announcement involving China triggered a massive deleveraging event across crypto markets. CoinShares estimated the resulting liquidation wave at roughly $19 billion, describing it as one of the most severe systemic events in crypto history.
That episode arrived only days after Bitcoin reached a then-record high above $122,000. The violent reversal ended a seven-year streak of positive October performance and showed how quickly excessive leverage can overwhelm bullish market conditions.
This year, however, Bitcoin has entered October with spot ETF infrastructure providing a more established channel for institutional exposure. The latest price move also forced more bearish positions out of the market. More than $120 million in Bitcoin shorts were liquidated during the latest advance, while total crypto liquidations reached about $210 million.
Fed Policy Could Shape October’s Next Move
Macroeconomic conditions remain another major variable. The Federal Reserve raised its benchmark range to 3.75%-4% on September 16, its first rate increase since 2023. Recent comments from Fed officials have since reduced market expectations for another increase at the October meeting.
For Bitcoin, a less restrictive rate outlook could support risk assets and improve liquidity conditions, although inflation and Treasury yields remain important risks. The upcoming October 27-28 Fed meeting therefore gives traders a fundamental event to watch alongside ETF flows and price structure.
