In the last 24 hours, Bitcoin and Ethereum both dipped by 0.02%. Among the leading altcoins, BNB, XRP, Solana, Dogecoin, and Cardano recorded gains of up to 4.43%, while Tron experienced a decline of 1.54%.
According to Prateek Gupta, Head of Business at Mudrex, this upward movement pushed Bitcoin above its 365-day moving average for the first time since March 2023. Notably, on-chain analysis revealed minimal profit-taking, despite the size of the rally; however, the Coinbase Premium Index remains in negative territory, indicating that this surge has relied more on futures and ETF inflows than on traditional spot purchases.Also Read |Rs 1.68 crore investments, Rs 89,000 monthly MF SIP. Can this 40-year-old investor retire at 50?
He added that a sustained increase past $89,000 could pave the way toward reaching the $100,000 threshold.
Data from Coinmarketcap reveals that the overall cryptocurrency market capitalization has fallen by 0.08% to $2.92 trillion. The crypto fear and greed index now sits at 78, indicating market sentiments toggle between ‘Greed’ and ‘Extreme Greed’, according to the CoinDCX Research Team.
Balaji Srihari, VP – Business at CoinSwitch in India, highlighted that Bitcoin surged to $87.4K, marking its peak since January 2026. This increase was fueled by robust institutional interest and short liquidations. On September 21, U.S. spot Bitcoin ETFs attracted nearly $999 million in net inflows, largely driven by key issuers such as BlackRock and Fidelity, alongside approximately $648 million in short positions being liquidated. Over the preceding week, Bitcoin and Ethereum rose by 13.49% and 14.20% respectively, while major altcoins like BNB, XRP, Solana, Tron, Hyperliquid, Dogecoin, and Cardano increased by as much as 31.26%.
Avinash Shekhar, Co-Founder and CEO of Pi42, remarked that the recent fluctuations in the cryptocurrency sector illustrate how swiftly market sentiment can shift when geopolitical tensions ease.
Market Overview
Riya Sehgal, Research Analyst at Delta Exchange: ETF inflows have played a crucial role in the current market dynamics. U.S. spot Bitcoin ETFs garnered approximately $999 million in net inflows on September 21, marking the highest daily inflow since October 2025.
Vikram Subburaj, CEO of Giottus: Bitcoin trades near $86,500, reflecting nearly a 14% rise over the week. A significant factor in this momentum is the resurgence of institutional interest, with U.S. spot Bitcoin ETFs attracting close to $1.96 billion over four trading days ending on September 22.
Nischal Shetty, Founder of WazirX: The wider crypto market displays a positive trend, with total market capitalization climbing towards $2.93 trillion, and 24-hour trading volume approaching $110.73 billion.
(Disclaimer: The recommendations, insights, and opinions shared by experts are their own and do not necessarily reflect the views of The Economic Times)