Bitcoin Surges Past $81,800 on Regulatory Boost and Relief Rally

Bitcoin surged to over $81,800 on September 21 before trimming its gains and trading at around $81,452. The cryptocurrency saw a 1.42% increase in value over the past 24 hours and a 5.09% gain for the week.

The resilience of crypto markets despite a challenging macro and policy backdrop is noteworthy, according to Prateek Gupta, Head of Business at Mudrex. He attributes this strength to regulatory developments, including an SEC exemption for tokenised-stock trading and new CFTC crypto proposals sent for White House review.

Riya Sehgal, Research Analyst at Delta Exchange, estimates that Bitcoin has technically reclaimed all major 4-hour moving averages but notes that the $81,800-$82,500 region remains a key resistance zone. A sustained break above this area could pave the way towards $83,000-$84,000, while $80,000 remains the first important support.

According to CoinDCX, top gainers for the day included NEAR Protocol and Venice Token with over 22% each, followed by Avalanche and Jupiter. The cryptos that posted losses include MemeCore, JUST, and Midnight. Market sentiment remains greedy as the Crypto Fear & Greed Index rises to 72.