Bitcoin gained 8% in September, outperforming equities and gold, driven by ETF inflows and corporate accumulation, currently trading near $86K.
Macro & Markets ·
Bitcoin posted an 8% gain in September, a performance that exceeded both the S&P 500 and gold, which each declined more than 6%. The strength came from inflows into US-listed Bitcoin ETFs alongside corporate accumulation, as improving economic conditions and easing inflation concerns supported broader market sentiment favoring the asset.
The cryptocurrency now trades just below $86,000. Whale wallets have increased their holdings significantly during this period, and analysts have pointed to a potential path toward $100,000 should the asset break through current resistance levels, though whether such a move materializes remains uncertain.
What is less clear from available reporting is the precise magnitude of ETF inflows and corporate purchases, or the timeline and conditions required for any sustained move past existing resistance points.