Bitcoin has staged one of its strongest recoveries of 2026, climbing above USD 87,000 on September 21 and reaching its highest level since late January. The move follows a difficult first half and reflects stronger spot demand, ETF inflows, institutional buying and renewed activity across derivatives markets.

Bitcoin reached an intraday high of USD 87,374 on September 21. According to CoinMarketCap, the cryptocurrency has gained 14.4% in the last seven days and 1.72% in the last 24 hours. It also jumped by roughly 25% in August.

The rally pushed Bitcoin through a closely watched on-chain resistance region. Glassnode identified USD 83,000-USD 86,000 as a major ceiling formed by long-term-holder cost basis, liquidation positioning and ETF break-even levels.

Approximately 1.07 million BTC had been acquired between USD 83,000 and USD 86,000, with almost all of that supply belonging to long-term holders. Moving above this area therefore represented an important test of whether the market could absorb potential selling.

Glassnode’s September 21 Market Pulse said Bitcoin had touched USD 86,000 and risen more than 10% from the previous Sunday’s close. Spot taker flow shifted from net selling to net buying, while trading volume and momentum strengthened.

According to SoSoValue, US spot Bitcoin ETFs recorded USD 998.95 million in net inflows on September 21, their strongest daily intake since October 2025. BlackRock’s IBIT attracted USD 381.37 million, while Fidelity and ARK 21Shares collectively accounted for another USD 527.96 million.

75 million. The inflows also helped push Bitcoin above an estimated ETF-holder cost basis of USD 81,722, putting the average ETF investor back into profit.

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