Bitcoin sees big overnight rally as ETF demand returns before the next US jobs test

Bitcoin retook $86,000 by the morning of Oct. 2 as demand for US spot Bitcoin ETFs recovered, with short covering a plausible accelerator for the advance ahead of the US jobs report.Bitcoin traded at $86,325.44 at 08:40 UTC, up 3.67% over 24 hours. The advance carried it beyond the Sept. 30 rebound above $85,000 that faded below $84,000 after US inflation data.The ETF reversal gives the recovery support beyond leveraged traders closing bearish bets. Reported short liquidations offer a mechanism for accelerating an existing advance. The initial trigger remains unclear because daily fund flows and rolling liquidation figures cover different windows, but the combined evidence supports an explanation built around renewed buying interest and forced short exits.Coinbase's BTC-USD market offered a view of the size of the move: at 08:42 UTC, its rolling 24-hour range ran from $83,353.87 to $86,885.28, with the last trade at $86,377.70. Ether, XRP and Solana also advanced in CryptoSlate's market rankings, placing Bitcoin's recovery within a broader rise in major cryptocurrencies.ETF demand returned after an outflow dayUS spot Bitcoin ETFs recorded net inflows of $102.7 million on Oct. 1, ac...