Bitcoin rises as ETF inflows return ahead of US jobs

By 08:40–08:42 UTC on Oct. 2, Bitcoin traded around $86,300, up roughly 3–4% over 24 hours. Coinbase showed a 24‑hour range from about $83,354 to $86,885 with a last trade near $86,378. The price had rebounded above $85,000 on Sept. 30 and later fell below $84,000 after US inflation readings.

Farside Investors’ ETF flow data recorded $102.7 million in aggregate net inflows to US spot Bitcoin ETFs on Oct. 1. The total combined inflows and outflows across funds were mixed: BlackRock’s IBIT attracted money while Fidelity’s FBTC and several other ETFs showed redemptions, producing the positive net figure.

Market data showed elevated derivatives activity. Reported Bitcoin futures turnover over 24 hours was about $70.6 billion versus roughly $6.35 billion in spot turnover across tracked markets. Exchanges reported about $135.5 million in liquidated Bitcoin futures positions. A separate estimate put roughly 91% of those liquidations on short positions. When leveraged short positions are closed, exchanges typically buy Bitcoin to settle contracts.

Other major tokens advanced during the session. Ether, XRP and Solana each rose by a few percentage points on the same trading day.

Economic data released around the end of September provided the backdrop for trading. The August personal consumption expenditures report, published Sept. 30, showed core PCE inflation at 0.2% month over month and 3.0% year over year, and headline PCE at 0.3% month over month and 3.4% year over year. On Oct. 1, Federal Reserve Vice Chair Philip Jefferson warned of upside inflation risks and indicated that assessing future policy adjustments could take more time; he also referenced the Fed’s September quarter-point rate increase to a 3.75%–4% range. The ISM manufacturing report for September showed its prices index at 77.9, up from 71.1, and a manufacturing PMI of 54.5.

The US jobs report is scheduled for 12:30 UTC on Oct. 2 and will follow the overnight price movements and reported fund flows.