In this video, we break down Bitcoin on the 4hr & 15m chart using Elliott Wave Theory. You’ll discover both bullish and bearish scenarios, plus the critical price levels and targets to watch. Video by Koenz Trading.
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Bitcoin (BTC) is trading around $86,000–$86,400 as of October 2, 2026, marking a 2.9% to 3.4% climb over the last 24 hours. The apex cryptocurrency successfully reclaimed the $86,000 level for only the second time in recent months, pushing its 90-day gains to roughly 35% as a strong quarterly rebound gains serious traction.
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Bitcoin Insights Today
• The "Uptober" Effect & Seasonality: The early October surge falls in line with Bitcoin's historical seasonal strength. Traders are aggressively bidding up the asset after it proved highly resilient against mid-September interest rate hikes and a stalled US crypto regulation bill.
• Macro Waiting Game: The wider market is experiencing a "sea of green" as traders position themselves right ahead of the highly anticipated U.S. non-farm payrolls/jobs report.
• Citigroup's Massive Price Target Raise: Sentiment received a major institutional boost today after Citigroup officially raised its 12-month Bitcoin price forecast to $113,000 (up from its previous $82,000 target), citing a resumption of steady spot ETF allocations.
• Spike in Bullish Leverage: Bitcoin derivatives activity is heating up rapidly. Total open interest jumped by $2.3 billion over the last 48 hours to reach $56.2 billion (653,000 BTC), while perpetual funding rates expanded from 3% to 10%—signaling a significant influx of aggressive, bullish leverage.
• Market Dominance: Bitcoin continues to absorb the lion's share of market liquidity, pushing its market dominance close to 60% (58.98%) even as large-cap altcoins like Ethereum map out minor breakouts.
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