Bitcoin Price Analysis: Path to $87,000

Bitcoin is currently at $84,190.37, with volatility suggesting a potential move above $87,000 could be on the horizon, depending on ETF inflows.

Crypto Daybook AmericasBitcoin's Path to Surpassing $87,000: Key Factors

Your day-ahead look for Oct. 7, 2026

By Omkar Godbole|Edited by Jamie CrawleyOct 7, 2026, 7:30 a.m. EDT3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedIn Facebook Email Make preferred on (Best Backgrounds/Shutterstock)SummaryShow

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Currently priced at BTC$84,190.37, Bitcoin and other major cryptocurrencies are experiencing a dip today. However, if you look at the broader picture, the price movements over the past two weeks have remained relatively stagnant.

Some market analysts suggest that the recent erratic trading may be indicative of a typical stair-step rally, potentially leading to a breakout above $87,000 soon.

The key to transitioning from this pause to a significant upward move lies in the factors that fueled the surge in September: substantial inflows into spot ETFs.

In September, U.S. spot bitcoin ETFs attracted approximately $2.6 billion, with nearly $2.39 billion of that total coming in during the week ending September 25. Notably, on September 21, inflows peaked at around $999 million. However, demand has since diminished, with ETFs only securing $241 million last week and a mere $28 million this week thus far.

Oliver Carding, the head of marketing at Tesseract Group, noted, “I interpret the current situation as evidence that the ETF demand from September has not yet rebounded sufficiently to counteract the renewed macroeconomic pressures. An influx of over $300 million per session for multiple sessions would serve as a crucial indicator that institutional interest is returning.”

Martin Lee, head of content and data insights at DWF Labs, emphasized the importance of large daily inflows over extended streaks of smaller accumulations. “This year, we’ve seen 93 out of 190 trading days be negative while still recording net inflows of $1.2 billion. The cumulative size of flows over longer periods is more significant than daily fluctuations, which have been quite volatile this year, but it’s certainly something to keep an eye on as developments unfold,” he stated.

In the meantime, different types of buyers are continuing to accumulate assets.

“It seems investors are taking advantage of downturns to accumulate and dollar-cost average alongside institutional purchasers,” remarked Paul Howard, senior director at Wincent. “Many participants in the market are still aiming for Bitcoin to reach $100k+.” Stay vigilant!

For more insights on today's altcoin and derivatives activity, check out Crypto Markets Today. For a full list of events this week, see CoinDesk's Crypto Week Ahead.

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What’s trending

U.S. government moves over $100 million in BTC and BNB. A sale hasn't been confirmed (CoinDesk): Wallets reportedly linked to the U.S. government transferred 833.599 BTC, valued at approximately $71.6 million, to two unidentified addresses. A different government-associated wallet sent around 40,285 BNB, worth $31.63 million, to another unidentified address.
Bitcoin dips below $84,000 as oil jumps on Iranian tanker attacks (CoinDesk): Bitcoin declined roughly 1.5% to just above $84,200 early Wednesday, as oil prices surged due to increased Iranian attacks on tankers in the Strait of Hormuz, leading to a rise in Treasury yields and the dollar.
Cardano gives token issuers power to freeze, seize and restrict assets (CoinDesk): The Cardano Foundation introduced a token standard enabling issuers of stablecoins, funds, and bonds to determine asset recipients and to freeze or seize holdings when necessary.
Dollar gains as oil climbs and investors focus on the Fed (Reuters): The U.S. dollar rose slightly, supported by increasing oil prices, while investors awaited minutes from the Federal Reserve meeting and comments from policymakers for hints about a possible rate hike. The euro lost some of its earlier gains, and the yen weakened.

Today’s signal

Ether-bitcoin ratio's daily chart. (TradingView)

The chart displays daily fluctuations in the Binance-listed ether-bitcoin ratio in candlestick format. An Ichimoku Cloud, a momentum indicator created by a Japanese journalist in the 1960s, is overlaid on the chart.

The ratio has dipped below the Ichimoku Cloud, indicating a bearish shift in momentum. If this breakdown continues, it would suggest that ether’s upward trend against bitcoin has concluded.

The immediate support is indicated by the yellow line based on the September 4 low of 0.03059. A further drop below this level would reinforce the bearish outlook.

Crypto Daybook AmericasRelated AssetsBitcoin$84,190.371.57%Latest Crypto News