Bitcoin Price Today: BTC Reclaims $86K as "Uptober" Rally Begins

Bitcoin reclaimed the $86,000 level as the “Uptober” rally kicked off, with BTC up more than 2.2% to trade around $86,150. The move came as October began with renewed momentum across crypto markets, which were also higher, while Bitcoin briefly pushed above the key $85,000 area. Trading strength is being linked to a bullish shift from Citi, which raised its 12-month Bitcoin price target from $82,000 to $113,000, citing stronger crypto activity, supportive macro conditions and renewed ETF demand. U.S. spot Bitcoin ETFs recorded $102.7 million in net inflows on Oct. 1 after the prior day’s $148.7 million outflow. Fed rate hike odds also cooled: New York Fed President John Williams said there was “no need for urgency,” and CME FedWatch showed October odds falling to about 44%. Markets also saw liquidations totaling $324.68 million across 77,543 traders in the prior 24 hours. Traders are watching whether BTC can break the $86,837.30 swing high.