Bitcoin Surges Past $87,000 Amid Strong Demand and Institutional Accumulation
Bitcoin has broken above $87,000 for the first time since late January 2026. The cryptocurrency market capitalization also rose to approximately $2.93 trillion. This move marks a sharp recovery from earlier weakness and comes after a strong momentum in August.
The on-chain conditions have changed significantly. Glassnode identified the $83,000-$86,000 range as a major resistance zone where roughly 1.07 million BTC had previously been acquired by long-term holders. Breaking through this zone represents an important shift from earlier in September when Bitcoin repeatedly traded below the ceiling.
The renewed demand for US spot Bitcoin ETFs has also contributed to the rally. According to SoSoValue, the funds recorded $998.95 million in net inflows on September 21, their largest single-day intake since October 2025. The inflows continued on September 22 and 23, accumulating an additional $1.061 billion.
Strategy has also contributed to the institutional accumulation by purchasing 950 BTC for $75.7 million. This increases its reported Bitcoin holdings to approximately 846,000 BTC.