Bitcoin climbs 3.67% to $86,325 as spot ETF inflows return ahead of US jobs data

By Khal · · 2 min read

Editorial illustration: Silver coins descend through a curved transparent tube into a chamber on the lower end of a bronze balance, while a large gold Bitcoin coin sits on the raised platform.
AI-generated editorial illustration · AI-generated editorial illustration · Published Oct 2, 2026, 12:07 p.m. (56 minutes ago)

In brief

  • Bitcoin traded at $86,325.44 at 08:40 UTC on Oct. 2, up 3.67% over 24 hours.
  • US spot Bitcoin ETFs posted $102.7 million in net inflows on Oct. 1, per Farside Investors.
  • Short positions made up an estimated 91.13% of 24-hour Bitcoin futures liquidations, according to CoinNess.
  • The September US jobs report was scheduled for 12:30 UTC on Oct. 2.

ETF money comes back (after a day out)

US spot Bitcoin ETFs recorded net inflows of $102.7 million on Oct. 1, according to Farside Investors data cited by CryptoSlate. That followed net outflows in the previous session.

The split wasn't even. BlackRock's IBIT drew inflows while Fidelity's FBTC and several other ETFs recorded redemptions.

On Coinbase, the BTC-USD market showed a rolling 24-hour range of $83,353.87 to $86,885.28 at 08:42 UTC, with the last trade at $86,377.70. Ether, XRP and Solana also rose in CryptoSlate's market rankings.

Shorts got caught, but the trigger isn't clear

Derivatives did a lot of the talking. CoinGlass data at 08:42 UTC showed about $70.58 billion in 24-hour Bitcoin futures turnover against roughly $6.35 billion in spot turnover, plus about $135.47 million in liquidated Bitcoin futures positions. CoinNess, in a separate Oct. 2 estimate, said 91.13% of the 24-hour Bitcoin futures liquidations it tracked involved short positions.

That's a lopsided number. CryptoSlate framed short covering as a plausible accelerator rather than the established cause, and it said the initial trigger is unclear because daily fund flows and rolling liquidation figures cover different time windows. The turnover data shows heavy derivatives participation (it doesn't measure fresh capital entering Bitcoin).

Inflation hasn't gone anywhere

The macro backdrop is still sticky. The August PCE report, released Sept. 30, put core inflation at 0.2% month over month and 3.0% year over year, with headline PCE at 0.3% monthly and 3.4% annually. ISM's September manufacturing report, issued Oct. 1, showed the prices index rising to 77.9 from 71.1, with the manufacturing PMI at 54.5.

Fed Vice Chair Philip Jefferson said on Oct. 1 that assessing future policy adjustments could take more time. He highlighted upside inflation risks and referred to September's quarter-point rate increase to 3.75% to 4%.

The next test is the September US jobs report, scheduled for 12:30 UTC on Oct. 2.

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