Bitcoin rose 38.7% in Q3 2026, from $60,147 to $83,404. The quarter high was $87,396 on September 21. Spot on September 30 is about $83,330. Market cap is $1.67 trillion, still 34% below the October 2025 high near $126,000. July was repair: +7.1% to $64,388. August was the breakout: +22.1% to $78,597, with a push through $81,000. September added another 6.1% after first dropping toward $75,000. The September rally came after two hits. On September 15 the CLARITY Act failed in the Senate 49–50. On September 16 the Fed hiked 25bp to 3.75%–4.00%. Bitcoin still ran from about $74,900 to $87,400 in a week. That move was driven by $750 million in short liquidations and a $2.39 billion ETF inflow week. U.S. spot Bitcoin ETFs now show about $57.6 billion in cumulative net inflows. September added $4.6 billion and pushed 2026 flows back into positive territory. The catch: daily inflows fell from about $1.0 billion on September 21 to $31 million on September 28. ETF average cost is near $84,000–$86,000, so funds are slightly underwater at current prices. Into month-end, Bitcoin is stuck in $82,500–$84,500. Funding is negative. Futures open interest dropped 49,000 BTC in the week of September 21, the largest weekly cut since October 2025. Options interest is building at $90,000, $95,000 and $100,000. Q3 was a squeeze quarter. Q4 needs ETF flow to stay strong, not fade. Watch $82,500 support and $87,400 resistance.