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Ad Home / Crypto News / 5 Reasons Why Bitcoin Price Is Going Up Today 5 Reasons Why Bitcoin Price Is Going Up Today 02 Oct, 2026 By Varinder Singh Varinder Singh
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More Varinder is a seasoned leader in the fintech and crypto media with over 13 years of experience, including over 7 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers. Read full bio Copied! Why Trust CoinGape CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information. Highlights
Bitcoin price is skyrocketing on Friday, trading towards $87,000 and up 4% over the past 24 hours. This comes amid a broader crypto market recovery despite higher bond yields globally. Here are 5 reasons why Bitcoin price is going up today
Coinglass data shows over $120 million in shorts liquidated in just an hour on October 2, taking total crypto market liquidations to $326 million. Almost $90 million in BTC short positions were forced closed by leveraged traders as Bitcoin price pushed back above $86,000
In the last 24 hours, Bitcoin has recorded nearly $135 million in total liquidations, with $123 million in short liquidations. Binance crypto exchange recorded two massive BTCUSDT liquidations of $11.73 million and $10.36 million at 4:20 AM UTC
Derivatives traders targeting $90,000 levels and oil prices falling in Friday’s session also helped trigger short liquidations. Meanwhile, investors weighed the US-Iran war risk amid signs of a recovery in Middle East supplies
Fed rate hike odds for October have dropped sharply after weaker-than-expected US PCE inflation readings and a pause signaled by the US Federal Reserve leaders. The probability of a 25 bps October Fed rate hike has plunged from almost 65% a week ago to 26% now
Markets now expect the Fed to keep interest rates steady at 375-400 bps. FOMC Vice President John Williams said there was “no need for urgency” to raise rates and that the Fed could wait for more data. Fed Vice Chair Philip Jefferson also signals officials may want more time before raising rates again
As a result, the 10-year Treasury yield fell slightly from nearly 5.3% highs, with short-term bond yields also easing. The US dollar index (DXY) also dropped to 101.95. Lower bond yields and a weaker US dollar typically boost bullish sentiment on assets like Bitcoin, causing prices to go up
Glassnode noted that the sell wall over BTC has gone. Buyers took out the $85K wall yesterday, after almost a week of failed tests. “The rest of the sell orders seem to have been removed,” it added
With reduced ask liquidity above, this should drive Bitcoin price to move up faster. Notably, the next major liquidation cluster is around $92,466
Santiment revealed that Bitcoin outperformed both stocks and gold heading into Q4. Bitcoin price gained roughly 7% in a month, while the S&P 500 barely moved and gold dropped more than 6%
Experts such as 10x Research and BIT (formerly Matrixport) also believe Q4 will boost upside momentum in the crypto market due to seasonality, bullish technical chart patterns, and an improving macro outlook
Cheds Trading noted a clear break in Bitcoin toward earlier resistance levels. He also pointed out that Bitcoin weekly price chart is trying an 8 EMA / 50 SMA bull cross. “Last cross was prior cycle bottom,” he said
Kalshi traders expect Bitcoin price to trade as high as $92,000 this month after its massive breakout. Polymarket data also shows that prediction market traders remain bullish on Bitcoin amid multiple headwinds, with higher odds of rally
Bitcoin price is rising as spot Bitcoin ETFs returned to net inflows, reversing the previous session’s outflows. Spot Bitcoin ETFs saw a combined $102.7 million in inflows on October 1, according to Farside Investors
BlackRock Bitcoin ETF (IBIT) led with $195.6 million of net inflows. Grayscale’s Bitcoin Mini Trust added $14.6 million and Morgan Stanley’s MSBT saw $7 million in purchases
Some purchases were partly offset by redemptions in others, as investors continued to track previous outflows. Fidelity’s FBTC lost $60.7 million, Grayscale’s GBTC $31.4 million, Ark 21Shares’ ARKB $7.7 million, Bitwise’s BITB $6.9 million, Invesco’s BTCO $4.2 million, and VanEck’s HODL $3.6 million
In September, spot Bitcoin ETFs recorded $2.65 billion in net inflows, with cumulative flows since launch almost $57.7 billion. Citi Group expects ETF inflows to remain relatively sticky and consistent, providing a sustained source of demand as institutional adoption expands
US SEC proposed new rules and amendments to provide a tailored framework for the custody of crypto assets for registered investment advisers and regulated funds
The commission proposed letting investment advisers hold clients’ crypto themselves when no qualified custodian is available, and allowing state trust companies to act as crypto custodians
SEC Chair Paul Atkins spotlighting Bitcoin in his statement triggered an upside in BTC price. “Since the advent of Bitcoin in 2008, the crypto asset market has grown from a niche curiosity into a multi-trillion-dollar asset class to which investors actively seek exposure.”
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information
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