According to Woofun AI, on September 21, the Bitcoin price broke through the $82,000 mark, reaching a maximum of $82,100. The daily chart recorded five consecutive gains and then fell back to around $81,000, indicating that the crypto market has ushered in a critical direction choice after experiencing long-term sideways trading.
The fervent performance of the altcoin market has become an important engine driving the overall recovery. The price of ETH surpassed $2,700, ZEC stood at $1,500, and NEAR soared to $4.35, a weekly increase of nearly 100%; tokens such as ENA and ZAMA also recorded significant gains. In terms of capital flow, Bitcoin spot ETFs saw a turning point in August after continuing net outflows in April of this year, with net inflows of nearly 1 billion US dollars recorded several times in a single week. Among them, the net inflow for the week of August 21 reached 1.92 billion US dollars, a new high since October 2025; in contrast, the net weekly net outflow from August to now has never exceeded 500 million US dollars. Ethereum spot ETFs also performed strongly, maintaining positive inflows for 3 consecutive months since July, with a net inflow of $1.85 billion in August, breaking the record since August 2025.
According to data compiled by Woofun AI, Bitmine, the largest holder of ETH, continued to increase its holdings, and its holdings rose to 5.85 million ETH, accounting for 4.83% of the total supply, with a market capitalization of US$14.27 billion, and a significant increase in institutional allocation.
Institutional trends resonate with macroeconomic policy changes. On September 20, Strategy (MSTR.US) founder Michael Saylor released Bitcoin Tracker information containing orange dots, implying that the company is about to increase its holdings; combined with the pattern of buying back about 3,000 BTC since the end of August, its total holdings rose to 84,5050 units, worth 68.76 billion US dollars. At the macro level, the Federal Reserve raised interest rates by 25 basis points for the first time in 3 years in September. The market rebounded immediately after falling before the rate hike. Currently, it is only expected to raise interest rates once more for the rest of the year, and interest rate cuts may be resumed in 2027; the probability of an October rate hike is 55%, and if implemented, it will follow or enter the standstill phase. On the geopolitical side, on the evening of September 19, Mohesin Rezai, secretary of Iran's Supreme National Security Council, announced that he proposed the seven conditions needed to begin negotiations with the US government, stressing that the US must accept the conditions to get out of trouble; on September 20, US President Trump said he was open to meeting with the Iranian president, and the situation eased and expectations heated up.
Technical aspects and on-chain data further confirm the bull market signal. Alex Thorn, head of research at Galaxy (GLXY.US), pointed out that Bitcoin's weekly closing price returned to the 50-week moving average (50W MA) for the first time in 45 weeks. Historically, this signal is often seen as confirmation of the bottom of a bear market. BTC has risen about 29% in the past 35 days. According to Glassnode data, the entity-adjusted SOPR 7-day EMA is back above the 1.00 break-even line, indicating that profitable sales were absorbed by strong buying, which is in line with the characteristics of a bull market.
Dr. Profit, a well-known trader, believes that if BTC breaks through MA50 of about $78,700 and is confirmed on a weekly basis, it will mark the start of a new round of bull market; the current trend is similar to the structure of 2022 to 2023. The current trend is similar to the structure of the 2022 to 2023. Of the 7 times in history, the 50-week EMA opened 5 times, and the other 2 breakthroughs were made during the 2011 and 2020 holidays. BTC is currently in the $71,000 to $82,000 range. Breaking through the $82,500-$83,000 area will strengthen confirmation. Its strategy is to maintain spot holdings, and the target price is towards $88,000. This is the strongest technical resonance driven by macro-easing expectations and increased institutional holdings after the 2020 cycle.