Bitcoin Surges to Eight-Month High Amid Broader Market Rally

Bitcoin reached an eight-month high on September 21, crossing $85,000 in value, amid improved risk sentiment across global markets.

The price increase of 5.1% took Bitcoin to $85,222 in early New York morning trading, according to Bloomberg. At the time of writing, CoinMarketCap data showed Bitcoin at $84,703.73, with a market capitalization of $1.7 trillion, up 5.33% over the past 24 hours.

This comes as part of a week-long rally in broader markets, driven by falling oil prices and optimism ahead of the summit between US President Donald Trump and China's Xi Jinping. FxPro chief market analyst Alex Kuptsikevich noted that crypto market capitalization has risen to $2.8 trillion, its highest level since January 2026.

Ethereum, the second-largest token, jumped by more than 4.3% to $2,747, while Tether was trading at $0.9997 and Binance Coin at $793.03, both up on the previous day.