Why it matters
- Crypto prices have been swinging with expectations for interest rates.
- October has historically been a strong month for bitcoin, which traders call "Uptober.
- Higher Treasury yields raise the bar for assets that pay no income.
Bitcoin rose about 3% to $86,650 early Friday, Investing.com reported, as traders bet on a seasonal October rally.
Bitcoin has gained in 10 of the past 15 Octobers, with an average gain of 27.4%, according to the report. The coin was up 2.6% for the week but still about 1% lower for the year, after recovering from a low near $58,000 earlier in 2026.
Other coins
Ether rose 0.4% to $2,728.87. Solana gained 2.9%, and XRP rose 0.9%, Investing.com reported.
The risks
The U.S. jobs report for September is due at 8:30 a.m. Eastern time. A strong reading could add to the case for another Federal Reserve rate increase, which tends to weigh on crypto prices.
Rising bond yields are another headwind. A Yahoo Finance analysis noted that a Treasury yield above 5% gives investors a guaranteed return that crypto has to beat, and that daily inflows into spot bitcoin exchange-traded funds slowed sharply over the past week, from $999 million to $134 million.
Sources
- Investing.com, Bitcoin rises to $86.5k with "Uptober" hopes
- Yahoo Finance, Is it too late to get into crypto in October 2026?
