On Monday, the price of Bitcoin once again surpassed $82,000, continuing the trend following last week's volatile trading.

The largest cryptocurrency by market capitalization was recently reported at around $82,393, up nearly 2% from the previous day, but it has still been in a downward trend over the past seven days.

As the beginning of what is known as “Uptober”, Bitcoin has not performed strongly. This month is usually a period when cryptocurrencies tend to rise; since the beginning of October, the price of Bitcoin has fallen by 2%.

According to the data from Farside Investors, last week American investors withdrew funds from exchange-traded funds (ETF), and speculators redeemed $228.4 million worth of shares from these investment instruments managed by BlackRock, Fidelity, and Grayscale.

Bitcoin is often driven by investors purchasing shares of the US ETF. These funds allow investors to buy fund shares through brokerage accounts, providing convenient access to this asset.

Despite a lackluster performance so far in October, analysts say that Bitcoin has now entered a bull market after trading below $70,000 for most of 2026; this level is far below its historical high of $126,080.

The price of Bitcoin began to rise in August, following a statement from the U.S. Treasury Department that it would more than double the scale of its government debt repurchase program. The currency achieved its best performance in three years that month, as well as its third-best August performance in its history.

Recently, Bitcoin has also benefited from what is known as "devaluation trading": investors buy certain assets to hedge against the risk of currency devaluation. In August, the US dollar weakened.

In September, Bitcoin continued to maintain a strong momentum, rising by nearly 6% within 30 days. In the third quarter of this year, Bitcoin recorded its best performance in three months since 2024.

After a record-breaking third quarter, can this upward trend continue in October?