Bitcoin climbed to $82,400 early Friday, its highest level since mid-May, before a stronger-than-expected US jobs report knocked the price back down. The move capped a third straight winning week for bitcoin, powered by nearly $900 million in fresh spot ETF inflows and Strategy's return to buying after a two-month pause.
Bitcoin jumped to $82,400 for the first time since mid-May early Friday, breaking out of a range it had held near $79,000. It then slumped by two grand as soon as the stronger-than-expected US jobs report landed, with traders assuming the Fed will be more inclined to raise rates at the end of the month.
Bitcoin heads for a third winning week
The token was up 4.6% week to date and hit an overnight high of $82,272.31, just short of its May 11 peak of $82,499.99. It last traded at $81,151.10. Bitcoin had spent much of the year in a $60,000-to-$70,000 range before breaking above $70,000 in late August, as the so-called debasement trade — investors moving out of dollars into crypto and gold — regained momentum.
According to Goldman Sachs executive director of digital assets Dominika Nestarcova, "long yields fell, the dollar weakened, and BTC and gold moved higher." Ether also rose, touching $2,545.62, its most elevated level since Aug. 27. Solana jumped to about $105.70, its highest price since Aug. 31.
ETF inflows and a short squeeze add fuel
US spot Bitcoin and Ether ETFs drew $872.2 million as bitcoin topped $81,000 and ether passed $2,500. Bitcoin funds alone attracted $730.8 million, their third-largest daily inflow of 2026, while ether ETFs added $141.4 million. BlackRock's IBIT accounted for roughly $454 million of the bitcoin total, about 62% of the group, with ARK 21Shares' ARKB adding $137.7 million and Fidelity's FBTC drawing $74.4 million.
According to XS.com head of business development Simon-Peter Massabni, the stronger spot demand spilled into derivatives markets: Bitcoin futures open interest climbed above $57 billion, its highest level since May, while more than $260 million of short positions were liquidated during the advance — the largest short squeeze since Aug. 21. Those forced buybacks added momentum, though they also left leverage elevated, raising the risk of another round of forced selling if the rally reverses.
Strategy resumes buying after a two-month pause
Strategy, the world's largest corporate holder of bitcoin, resumed its purchases for the first time in over two months, accumulating 4,603 BTC for $370 million. The company had sold at low prices, only to buy back at much higher levels.
Sources: CryptoPotato, CNBC, CryptoSlate
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