Bitcoin surged 6.71% on Monday to $86,620, touching an intraday high of $87,363, an eight-month high, driven by a record $999 million single-day ETF inflow and $650-920 million in forced short liquidations.
The rally was set up by bitcoin's first close above its 50-week moving average in 45 weeks, on Sunday 20 September.
US spot bitcoin ETFs took in $2.4 billion across the week, pushing 2026's year-to-date flows positive for the first time, though daily inflows fell every single day after Monday's record, from $999M down to just $134.5M by Friday.
Renewed US-Iran tensions weighed on the back half of the week: Tuesday brought optimism after Trump described a "good meeting," but by the weekend he had reportedly rejected Iran's ceasefire and Hormuz proposals, pulling bitcoin down toward $83,000 intraday before it recovered.
Bitcoin now sits roughly 46% above its June lows, putting the third quarter on track to be one of its strongest in over a year if the current range holds through the 30th.
Bitcoin ended the week nearly 7% higher after a strong Monday showing. The first of the week brought Bitcoin up to a high of $87,363. The rest of the week brought it to a range of $84,000 to $85,000. It held most of its gain from Monday. Here's a closer look.
Bitcoin's close above its 50-week moving average on the 20th set it up for a strong week. The week's flow was strong for Bitcoin as spot ETFs brought in $2.4 billion. This pushed 2026's year-to-date flows positive for the first time this year. It was also the largest weekly inflow since October 2025. Demand for the ETFs cooled through the week after a record-setting $999 million inflow on Monday.
Other news of the week included renewed tensions between Iran and the U.S. after Trump stated that he had a good meeting with Iran and then later rejected a ceasefire proposal and Iran's proposal to reopen the Strait of Hormuz. Renewed tensions between the countries pushed bitcoin towards the $83,000 range before the week ended.
Bitcoin Surges to an Eight-Month High
It began with an intraday high of $87,363 and ended at $86,620, up 6.71% from its previous close of $81,175. The bullish momentum pushed BTC above its 50-week moving average, signaling a technical buy signal. Elsewhere, spot Bitcoin ETFs hauled in $999 million in a single day, a record for 2026. As the spot price of Bitcoin trended higher, it broke through resistance, and somewhere between $650 million and $920 million in short positions were forced to liquidate. Matt Hougan, CIO of Bitwise, said that it's "crypto spring, the crocuses are blooming," and noted the beginning of a new season in the crypto market.
Iran Deal Optimism Boosts Crypto Rally
Monday's gain saw some profit-taking on Tuesday. Bitcoin dipped 0.48% to $86,204. Strong ETF inflows of $714.7 million provided some support. President Trump's description of a positive meeting with Iranian officials boosted investor sentiment, helping ease Bitcoin's mood from an extreme gauge of "Fear" to "Greed."
BTC/USD daily closes, 21 to 27 September 2026
Bitcoin fell 0.36% to reach $84,097. Inflows to bitcoin ETFs totaled $134.5 million, closing out the fifth consecutive positive day for the week. Approximately $97 million, or 72% of Friday's total inflows, was attributed to a single fund.
The Weekend: 26-27 September, Price Volatility Due to Iran
It was reported that Donald Trump rejected a seven-day ceasefire proposal from Iran and told his staff he expected Iran to resume attacks after the midterm elections. The price of bitcoin fell to $83,000 and then retraced to $84,450 and $84,804 on Saturday and Sunday, respectively. On Sunday, Trump separately rejected Iran's proposal to reopen the Strait of Hormuz. The news contributed to about $190 million in long and short liquidations across the crypto markets that day. Bitcoin's weekly close near $84,000 to $85,000 "does not look like a decisive breakout," and that hesitant price action here could see bitcoin retest its previous range and remain range-bound.
US Spot Bitcoin ETF Net Daily Flows, 21 to 25 September 2026
What it means
Monday's low of $80,899 became the level to watch on the downside. Also hit on Monday, at the high of the day, was the resistance of $87,363. Bitcoin has not been above that level since, even Wednesday's intraday high of $87,270 fell just short of it. Currently, Bitcoin is trading 46% above its June low of $57,700, at $58,524. If Bitcoin holds its current value by the end of the month, it would post one of its strongest quarterly performances in over a year. The ETF trend is also turning positive as inflows this year have moved into the black. However, weekly inflows to Bitcoin ETFs have been decreasing since Monday's record, dropping from $999 million down to $134.5 million by Friday. This latest inflow streak could be starting to lose steam even as the year-to-date picture keeps improving.
Data as of 27 September 2026. Prices and figures sourced from Investing.com, CoinGecko, Bloomberg, CNBC, Yahoo Finance, 247wallst, Bloomingbit/The Block, TechTimes, CryptoTimes, Cryptoticker, Benzinga, CoinMarketCap Academy, and analyticsinsight.net reporting.
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