Crypto Market Soars Above $3 Trillion as Institutional Inflows Boost Bitcoin

The global cryptocurrency market capitalization has surged back above $3 trillion, led by Bitcoin's climb toward $87,000 and a wave of institutional investment. The largest digital asset briefly traded near $87,300 on Monday, its highest level in roughly nine months.

Spot Bitcoin ETFs attracted roughly $999 million in net inflows on September 21, their strongest day in nearly a year, with BlackRock's iShares Bitcoin Trust accounting for $381 million. This influx of institutional money reinforced the view that the latest upswing is anchored in genuine spot buying rather than speculative derivatives activity.

As prices advanced, around $920 million in short positions were liquidated, forcing traders with bearish bets to exit quickly. Meanwhile, open interest in perpetual futures approached $160 billion, suggesting that market participants were replacing closed positions rather than simply reducing exposure.