U.S. spot Bitcoin exchange-traded funds attracted $134.4 million during the first two trading days of October, providing a positive start for a market often associated with seasonal strength in the month.
The funds recorded $102.7 million in net inflows on Thursday and $31.7 million on Friday, according to Decrypt’s Bitcoin ETF tracker. The two-day total came immediately after a $148.7 million outflow on September 30, which ended a nine-session run of inflows that had begun on September 17.
ETF flows reverse September’s final-day outflow
Spot Bitcoin ETFs hold Bitcoin directly and allow investors to gain exposure through exchange-traded products rather than buying and storing the cryptocurrency themselves. Daily net inflows indicate that more money entered the funds than left them, while outflows show the opposite.
Despite the weak final session, September was the ETFs’ second-strongest month since October 2025. SoSoValue data cited in the report showed $2.65 billion in net inflows for September. Since the funds launched, cumulative net inflows have reached $58.1 billion, while their combined net assets stand at $101.1 billion, according to Decrypt’s tracker.
The early October inflows have revived the crypto market’s “Uptober” label. The term refers to October’s historical reputation as a strong month for Bitcoin. Stephen Wundke of Algoz told Decrypt that Bitcoin had averaged an 18% gain in October over the past decade and said traders currently saw more potential upside than downside.
Jobs data reduces expectations for an October rate hike
A softer-than-expected U.S. labor report also helped shape the market backdrop. The economy added 29,000 jobs in September, while the unemployment rate increased to 4.2%, according to the Bureau of Labor Statistics.
Following the report, CME FedWatch odds of an October interest-rate hike fell to 14%, from 70% earlier in the week. A weaker labor market can reduce pressure on the Federal Reserve to continue raising rates. That shift can improve sentiment toward risk-sensitive assets, including Bitcoin, although it does not guarantee further price gains.
Bitcoin briefly reached $87,173 on Friday, close to its September high of $87,354, before retreating. The cryptocurrency was trading near $85,000 on Sunday morning and was up 0.5% over 24 hours, based on CoinGecko data cited by Decrypt.
Market picture and tests ahead
Moneyiar market data at 09:44 on October 5, 2026, showed Bitcoin at $85,927.133079954, up 0.78% over 24 hours and 4.05% over seven days. Flow was $0.0317963391, down 3.2% in 24 hours but up 4.4% over seven days. Loaded Lions stood at $0.0015622519, up 0.77% over 24 hours and 6.52% over seven days. Starpower was $0.1691322256, up 26.33% over 24 hours and 55.76% over seven days, with that figure timestamped by Moneyiar at 02:23 on August 26, 2026.
The positive ETF opening has not settled expectations for a new Bitcoin record this year. Traders on Myriad, a prediction market owned by Decrypt’s parent company Dastan, assigned a 93% probability that Bitcoin would not set a new all-time high in 2026.
ETF inflows for the year also remained below $1 billion after substantial outflows earlier in 2026. Investors will next have major U.S. economic and monetary-policy events to watch: the September consumer-price report is due on October 14, followed by the Federal Reserve’s meeting on October 28.
