Bitcoin (BTC) price is pressing back toward the $87,000 area as October opens, giving seasonal bulls a fresh case for a move toward roughly $94,000 if the month’s historical pattern holds.
Spot-market data over the weekend showed the asset lifting from an intraday low near $85,550 to a high around $86,770 on October 4, leaving the flagship cryptocurrency within reach of Friday’s peak near $87,180.
September had closed near $83,560 after a gain of about 6 percent over the prior 30 days.
From that finish, a roughly 12 percent October advance would land near $94,000, a level that lines up with the upper end of several current technical forecasts and with resistance that sellers have defended repeatedly in recent weeks.
The “Uptober” label is doing more narrative work than the tape alone. Early October trading has been a tight contest between favorable seasonality and a resistance band just under last week’s highs.
Institutional products remain part of the backdrop: US spot bitcoin exchange-traded funds collected on the order of $6.3 billion in third-quarter net inflows, including roughly $2.7 billion in September, even if the most recent sessions were quieter than the prior surge.
Provisional flows for the stretch from September 28 through October 2 were far smaller than the roughly $2.4 billion recorded the week before, and daily ETF trading value has cooled from peaks above $4.5 billion.
Separate flow tallies still show a third straight week of net inflows for bitcoin funds.
SoSoValue data cited in Monday market coverage put last week’s bitcoin ETF intake at about $241 million, taking cumulative net inflows since launch to roughly $57.8 billion and year-to-date net inflows to around $1.2 billion.
The two preceding weeks had added about $2.4 billion and a much smaller $6 million.
Ethereum products moved the other way, recording about $138 million in weekly net outflows after drawing roughly $690 million the week before.
Year-to-date ether ETF inflows still stood near $1.5 billion. At the time of those reports, bitcoin was trading around $86,200, up roughly 3.7 percent on the week, while ether was near $2,730.
Away from the price tape, Securities and Exchange Commission (SEC) Chair Paul Atkins is pressing a broader rulemaking agenda aimed at keeping digital-asset activity inside the United States.
On October 1 he issued a statement tied to a Commission proposal that would spell out how investment advisers and regulated funds may custody crypto assets under the Investment Advisers Act and the Investment Company Act.
Atkins framed the measure as closing a gap that has left advisers and funds without a clear lawful path for an asset class clients increasingly want, and as another step toward treating the United States as a primary venue for crypto markets rather than watching activity migrate offshore.
The proposal would replace custody standards written for an earlier market structure with a crypto-specific framework, while also updating long-standing adviser and fund custody provisions that have not been revised for decades.
In mid-September remarks, Atkins had already asked staff to develop rules that could, under conditions, allow advisers to self-custody certain crypto assets where no qualified third-party custodian exists, and to use state trust companies as custodians.
He has continued to urge Congress to advance the CLARITY Act, but he has also said the agency will keep building its own crypto program after the Senate failed to move that market-structure bill forward. Issuance rules, transfer-agent modernization, and custody are the three pillars he has described as the core of that effort.
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